Mandalay Pictures is moving its prestige pic division Mandalay Vision from New York to Los Angeles and has named Matthew Rhodes its new Vision president. At the same time, Mandalay owner Peter Guber and president Cathy Schulman have locked a new two-year funding deal with Tim Smith’s Prescience, financier of The King’s Speech.
Mandalay Vision launched in 2010 in New York with Celine Rattray as president. She left to form Maven Pictures with Trudie Styler. The company relocates to Mandalay’s LA office under Rhodes, who has produced such pictures as An Unfinished Life, Southland Tales, Passengers and the upcoming Nailed.
“In just one short year, Mandalay Vision has made its mark with such films as the current box-office success Soul Surfer and the Sundance standouts Salvation Boulevard and the award-winning Another Happy Day,” said Schulman. “Matt’s mastery of both the financial and creative aspects of film production will further boost Mandalay Vision’s foundation as new leader in the independent film community. And in Prescience, we’ve found an elegant, high quality partner with excellent taste, who shares our desire to support filmmakers with vision.”
Under the Prescience deal for Mandalay, the financier will supply $50 million in production funding for up to six features over the next two years by Mandalay Vision. The Prescience-Ealing Studios joint venture Ealing Metro has an option on handling international sales. The films will fall in the budget range of $5 million-$15 million.