Power Rangers billionaire Haim Saban today announced the launch of Saban Films, a distribution venture that will acquire 8 to 10 feature films annually for North American distribution. The distro arm of Saban’s media and entertainment private investment firm Saban Capital Group is in discussions with a major-studio distribution partner. Ex-RLJ Entertainment exec Bill Bromiley has joined Saban Films as President and will assume his new post at this month’s Cannes Film Festival, where the company’s looking to buy commercial, talent-driven features. Saban’s strategy will include theatrical and multiplatform digital distribution plans, including day-and-date releases.
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“The film distribution business is ever-changing as the audiences’ choices of consuming entertainment expand every day,” said Bromiley. “There is still a need for smart, commercial product which is marketed and distributed properly. We have a low-risk, high-reward distribution business model which is attractive for filmmakers.” Bromiley served as Chief Acquisitions Officer at RLJ Entertainment (formerly Image Entertainment).
Working under Bromiley will be CFO Shanan Becker and Director of Business Development Ness Saban. Becker, whose past stints include Paramount Home Entertainment and DreamWorks Home Entertainment, also joins Saban from RLJ and served as EVP Business Operations overseeing RLJ’s feature film division.
“I have a long-standing and deep affection for independent film and saw an opportunity in the theatrical distribution arena as well as an emerging distribution platform strategy that focuses on cable, satellite, and telco VOD,” said Saban. “Film is a natural progression for Saban Capital Group with existing interests already in television, media and brands.”