EXCLUSIVE: Dylan Sellers has formed Rivers Edge Films, a production company that kicks off with a strategic partnership with Kevin Frakes’ finance/production company PalmStar Media. Palmstar will fund Sellers’ overhead, production and development costs. They will jointly produce four to five films with budgets between $20 million and $40 million. Sellers will likely have a producing role in some of PalmStar’s other films.

Sellers spent the last three years as production president for The Weinstein Company, earning executive producer credits on films that included August: Osage County, St. Vincent, the upcoming Antoine Fuqua-directed Jake Gyllenhaal-starrer Southpaw, and The Giver. Before that Sellers was a senior production exec for Bob Shaye and Michael Lynn’s Warner Bros-based Unique Features. His producing credits include Footloose, A Cinderella Story, Agent Cody Banks, The Replacements, The Paper, The Music of Chance and Passenger 57.

Sellers has hired Whine Del Rosario as production exec. Del Rosario comes from Demarest Films where she was production executive for the last two and a half years. She began at CAA.

frakesPalmStar Media was formed in 2010 by Frakes and venture capitalist Peggy Taylor, and it has staked and produced more than 30 films including November Man, Laggies and the upcoming Jesse Eisenberg-Kristin Stewart-starrer American Ultra and Sing Street, the next pic by Begin Again’s John Carney.

“PalmStar’s financial resources, business acumen and creative tastes makes them the perfect partner as I launch Rivers Edge Films,” Sellers said.

Said Frakes: “Dylan’s track record as a producer and production executive speaks for itself. PalmStar is dedicated to providing the financial infrastructure for the highest caliber producers and filmmakers to develop commercial films for the global marketplace, and we couldn’t be more excited to add Rivers Edge to the fold.”