Questions About U.S. Investment Swirl As China’s Communist Party Enters Into Its 19th National Congress
EXCLUSIVE: This is an important week for China, and Hollywood. October 18 kicks off the 19th National Congress of the Communist Party. There will be much fanfare, with an opening ceremony broadcast live on China Central Television. The Congress is meant to unveil new leadership and set a blueprint for national development for the next five years and beyond.
So, what's at stake for Hollywood? First the negotiations on a new contract that would cover quota films has not… Read
Jean-Baptiste Babin Exiting Backup Films; Guillaume Lirondière Promoted
Paris-based Backup Media Group has appointed Guillaume Lirondière as partner while founding principal Jean-Baptiste Babin steps down from operational functions at Backup Films. This is a notable shift at the top of the finance, production and distribution outfit that Babin runs with longtime colleagues and friends David Atlan-Jackson and Joël Thibout. It is an amicable move as Babin seeks new challenges, and with Backup in good shape for the future.
Babin will be ceasing… Read
Charles D. King’s MACRO Raises $150M & Closes Credit Facility To Produce Film And TV Projects
MACRO, the multi-platform media company founded in 2015 by former WME partner Charles D. King, has raised an additional $150M in equity and debt financing to produce and finance four to six film and TV projects a year. The company also closed a substantial credit facility arranged by Bank of America Merrill Lynch.
This follows its first round of funding two years ago. And so far, the company has produced a number of projects and gotten into business with some high-profile… Read
Charter Sets Plans For New Headquarters Building In Stamford, CT
Executives at major cable operator Charter Communications joined with Connecticut Gov. Daniel P. Malloy and other officials today to announce plans for a new 15-story headquarters building in Stamford. The company says the project will create 1,100 permanent jobs for the state’s battered economy.
The new building at the Gateway Harbor Point development along the Long Island Sound is projected to have 500,000 square feet of work space. Employees will start to occupy the… Read
Bron Studios Secures Revolving $50M Credit Line From Comerica Bank
Bron Studios, the Vancouver-based production company headed by Aaron L. Gilbert, has just announced it has secured a $50 million revolving credit line with Comerica Bank. The credit line, Bron said, will go to help it manage its burgeoning slate of productions. This is the company that was behind Jason Reitman's Tully (Focus), Miguel Arteta's Beatriz at Dinner (Roadside), Denzel Washington's Oscar-nominated Fences (Paramount) and Nate Parker's The Birth of a Nation (Fox… Read
Wanda Pulls Financing From ‘Arc Of Justice,’ Indie Film From Hawk Koch And Mark Gordon
EXCLUSIVE: Last year, Dailan Wanda Group joined with veteran filmmakers Hawk Koch and Mark Gordon to create an independent/awards-caliber film division called The O Project. The first film was to be the $12.5M-budgeted drama that had Russell Crowe and David Oyelowo negotiating to star. Arc of Justice, which was to go before the cameras on October 1 with helmer José Padilha, has just run aground. That gritty courtroom drama based on the book Arc of Justice: A Saga of Race… Read
Mike Myers Exits ‘Del’, Biopic About His Second City Mentor, As Financing Collapses
Del, the biopic about Second City’s Del Close in which alum Mike Myers was to set star, is on hold due to financing for the film falling apart. Myers has exited the pic, and producers now will regroup and recast the lead as they figure out their next moves. But the film will not go forward this year.
It is known that John Malkovich had shown interest in playing Close, the feared taskmaster of Chicago’s Second City comedy troupe whose alumni also include Betty Thomas (who… Read
FilmNation Boards Supernatural Drama ‘The Lodge’
FilmNation Entertainment has come aboard to finance Goodnight Mommy helmers Veronika Franz and Severin Fiala’s upcoming indie The Lodge. The drama, which marks the first English-language feature for the directors, is about young woman and her new stepchildren who are menaced by a terrifying supernatural force while spending Christmas in their remote cabin.
Franz, Fiala, and Sergio Casci penned the script based on an original idea by Casci. Hammer Films' Simon Oakes and… Read
Annapurna Nails Down $350M Revolving Credit Facility For Future Growth
Annapurna announced that it has completed a $350M evolving credit facility to help in the company’s expansion in all areas of production, development, distribution and new mediums. J.P. Morgan is the sole bookrunner for the facility as well as co-lead arranger with Comerica Bank. Other parties included in the bank syndicate (put together by JP Morgan) include City National Bank, First Republic Bank, HSBC, MUFG Union Bank, SunTrust Bank and Wells Fargo.
"We are grateful… Read
Millennium Films’ Deal With China’s Recon Now “Dead”, Says Avi Lerner
The deal between China's Recon Holding, which had reached an agreement to acquire a majority stake in Millennium Films in February, is now over, according to the head of the Los Angeles-based production company. The deal, heralded earlier this year by Tony Xia and his Beijing-based Recon (which is part of the Recon Group that owns England’s Aston Villa Football Club) was for the Chinese company to take a 51% stake initially, then acquire the rest later.
Word came… Read
Fibonacci Films: New Indie Financier-Producer Comes On Scene From Symantec CEO Greg Clark
EXCLUSIVE: Greg Clark, CEO of the American software company Symantec, is launching Fibonacci Films, a company to produce and finance indie films “predicated on character-driven stories of originality across genres that push boundaries, create discussion and have strong theatrical potential.”
Fibonacci Films, which Clark chairs, will develop as a vertically integrated company capable of developing, financing and producing films in-house, which it says will give it the… Read
1inMM Prods. Raises $5M In Funds For Genre Films
EXCLUSIVE: 1inMM Productions' Julio and Diego Hallivis (The Hallivis Brothers) and Zach Horwitz have raised a new film fund to produce and finance two-to-three elevated genre films under $5M per year for global audiences. The availability of the funds were confirmed by Deadline with City National Bank.
"We created 1inMM Productions to produce high concept genre films with an edgy and unique approach to storytelling,” the Hallivis Brothers said in a statement to Deadline.… Read