Destination Films closes after 2 1/2 years
Destination Films, the mid-budget domestic distribution company founded in 1998 by Steve Stabler and Brent Baum, closed down at the end of last week after an ambitious but ultimately unsuccessful run of releases.The company was funded by an insurance-backed $100m funding arrangement through a wholly owned subsidiary brokered by Willis Corroon, but never secured the $100m line of credit it also planned as a P&A fund. The revolutionary Destination deal, constructed by Baum, saw ...
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