billblockBREAKING: QED International CEO Bill Block and PalmStar Media Capital CEO Kevin Frakes have teamed with Merced Capital L.P. to launch Merced Media, a new development, production and financing vehicle they said will invest $500 million in a three- to five-year program of pictures that focus on wide release. global-minded films. Merced’s Raj Singh and Stuart Brown oversee Merced’s media investments.

frakesThe venture is separate from Block’s QED, which bought David Ayer’s Fury as a spec script and watched it turn into a big Sony film with Brad Pitt, and Frakes’ PalmStar Media Capital. Merced Capital has been around since 1988, and its recent film investments include the Relativity pic November Man, Universal’s Rush, Lionsgate’s American Ultra and Term Life and Sing Street with The Weinstein Company.

QED films include District 9 and Elysium with Neill Blomkamp, the Ayer-directed Fury and the Barry Levinson-directed Rock The Kasbah, a film that stars Bill Murray. QED is backed by Media Content Capital.

PalmStar has been film financing adviser to Merced Capital since 2012 and its producing credits include Term Life, the Keanu Reeves-starrer The Whole Truth, American Ultra, Nowhere Man, Laggies with Tobey Maguire and Liev Schreiber, and the upcoming John Wick also with Reeves starring.