Michael Douglas' former production partner Peter McAlevey has lost his battle with cancer at the age of 58.

MCAlevey was part of Douglas' Stonebridge Entertainment venture which produced the films Flatliners, Double Impact and Radio Flyer.

He was reportedly in pre-production on a remake of Disney's 1963 movie The Three Lives of Thomasina at the time of his death on Friday (15Aug14).

Before he became a producer, MCAlevey worked as a roadie for the New York Dolls and the Rolling Stones, and he was Newsweek magazine's entertainment correspondent before Jeffrey Katzenberg recruited him to join him at Disney.

He left the company to form Stonebridge with Douglas.