Looking to gain a stronger footprint in Asia, the Weinstein Co. announced it has launched a $285 million fund to finance a total of 31 titles; 21 for cinema and 10 for direct-to-video release.
Participants in financing the fund are the Weinstein Co., Continental Entertainment Capital, PMA Capital Management Ltd, Israel Discount Bank of New York and Citigroup Global Markets Inc.
The company says the projects should be run over a 6-year period. The Weinsteins have hired David Lee, an Asian film executive.
Most of the filming will be in Asia, and reflect the regions's ""unique culture and showcase the talents of leading Asian filmmakers," said the company.
Some projects already in the works are a new rendition of "The Seven Samurai," and a live-action version of "Mulan."
Goldman, Sachs & Co. will be the investment banking firm in charge of placing and structuring the fund.
» Tom Cruise, United Artists Raise $500 million from BizofShowBiz
It looks like companies are striving to get financing in place before the credit markets dry up on them. The latest to do it is Tom Cruise and film company United Artists, which he runs. Through Merrill Lynch they raised... [Read More]
Tracked on: August 16, 2007 7:01 PM | Permalink to Trackback