30WEST, which invested in Parasite releaser NEON back in 2018, has taken a significant minority stake in UK and Ireland distribution, sales and production outfit Altitude Media Group.
Launched in 2012 by Will Clarke and Andy Mayson, Altitude saw early successes with Asif Kapadia’s Oscar-winning doc Amy and Barry Jenkins’ Oscar-winning drama Moonlight, more recently the company released Kapadia’s latest movie Diego Maradona.
Altitude has an active sales wing run by Mike Runagall, and also produces in-house, including the 2019 family comedy Horrible Histories: The Movie – Rotten Romans.
30WEST, part of the Friedkin Group, provides capital and guidance to companies and projects. The outfit took a majority stake in Tom Quinn and Tim League’s NEON in 2018, following the two companies partnering on the release of I, Tonya.
NEON’s release of Korean pic Parasite has been an unbridled success, with the movie scooping four Oscars including a historic Best Picture win, and grossing close to $50M domestically.
I understand Altitude has been seeking investment for a while, and this tie-up with 30WEST should give it formidable punching power in a UK indie market that has been struggling in recent years but could be ripe for a rebirth.
Altitude’s 2020 slate includes feature doc Chasing Chaplin, which is tipped for a Cannes bow, Sarah Gavron’s Rocks, and Ivan Kavanagh’s horror Son starting Andi Matichak and Emile Hirsch.
“We couldn’t be more delighted to cement our relationship with 30WEST. They are an ideal partner to support our ambitious plans for Altitude Media Group, which encompass several significant new areas of business,” said Altitude’s Will Clarke.
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