The media magnate has launched Saban Films and brought on Bill Bromiley as president.
Bromiley, most recently of RLJ Entertainment, will attend Cannes looking to kick off a slate designed to accommodate eight to 10 “high quality” features a year.
Saban Films will consider product at all stages of production from script to finished projects. The aim is to distribute titles theatrically but the long-term play appears to be digital exploitation with an eye on day-and-date where appropriate.
Saban, the chairman and CEO of media investment giant Saban Capital Group who is personally said to be worth billions, has made a major capital investment and is in talks with a studio partner to handle North American distribution.
“I have a long-standing and deep affection for independent film and saw an opportunity in the theatrical distribution arena as well as an emerging distribution platform strategy that focuses on cable, satellite, and telco VOD,” said Saban. “Film is a natural progression for Saban Capital Group with existing interests already in television, media and brands.”
“The film distribution business is ever-changing as the audiences’ choices of consuming entertainment expand every day,” said Bromiley. “There is still a need for smart, commercial product which is marketed and distributed properly. We have a low-risk, high-reward distribution business model, which is attractive for filmmakers.”
Prior to Saban Films, Bromiley served as chief acquisitions officer of RLJ Entertainment. He is joined on the management team by former RLJ Entertainment evp of business operations Shanan Becker as CFO. Ness Saban is named director of business development.
“We’ve put together a team led by a forward-thinking industry veteran who shares the vision, scope and principles which are at the core of the Saban brand,” said Saban Capital Group president and COO Adam Chesnoff.
Saban Capital Group was established in 2001 and has invested in Univision, Celestial Tiger Entertainment and Indonesia’s Sky Vision, among others. Saban is the co-founder of Fox Family Worldwide.