Bill Block has sold a portion of the company in an eight-figure deal that will enable him to grow the development, production and financing business and boost the agency side of his sales operation by paying minimum guarantees for more projects.
QED intends to produce and/or acquire four to seven features a year and grow its infrastructure to handle additional third party titles for sales and distribution.
The slate currently includes Arnold Schwarzenegger action-thriller Ten, which Open Road recently acquired for US distribution.
Block has also handled sales on Neil Blomkamp’s Elysium starring Matt Damon and Jodie Foster with Columbia set to release in the US and crime thriller I, Alex Cross starring Tyler Perry, Matthew Fox, Rachel Nichols and Ed Burns, which will open through Lionsgate in October.
“I am excited to be in business with Media Content Capital,” Block said. “Its investment in QED gives us the balance sheet to support filmmakers in getting their movies made and allows us to expand our business and platform to better serve our clients and the creative community.”
“We believe content is increasing in value around the world,” Sasha Shapiro said on behalf of Media Content Capital. “QED’s risk mitigation approach to financing new films is appealing to us. We look forward to working with Bill and the QED team in growing the business.”
Attorneys Joshua Grode and Zach Smith of Liner Grode Stein represented Media Content Capital in the transaction. Chris Corrabi represented QED.