Windmill strikes finance deal on The Moth Diaries
EXCLUSIVE: Newly launched Irish post production and finance company Windmill Lane Entertainment has struck an innovative finance deal on Ed Pressman production The Moth Diaries.
Produced by Samson Films, Mediabiz and Strada Films, Mary Harron’s film, which shot in Montreal, is currently completing its post and VFX at the Dublin based studio. It is the third international project to team up with Windmill, following EuropaCorp’s sci-fi thriller Lock Out and Steven Soderbergh’s Haywire.
Set up at the end of 2009, Windmill Lane Entertainment’s co-production model enables international productions to take advantage of the Irish tax credit, which is up to 28% of Irish spend and is delivered on financial closing or the first day of principal photography. Films do not have to have any kind of “Irish” story to qualify, nor do they need to shoot in Ireland.
The company recently invested 5m Euros into a visual effects studio aimed at hosting high end feature films.
“When the producers are looking for the last piece of finance when pre-sales at the right level aren’t forthcoming, we can often help in closing the deal,” said Michael Murphy, Chief Executive of Windmill Lane Entertainment, who is in Cannes hoping to attract more international projects.
“The traditional UK post deal is structured more as an investment, they take an equity position. What we are saying is, we can give them same or more, but we don’t need to take an equity position which may be more attractive to international producers.”