Cinema Management Group (CMG) president and CEO Edward Noeltner has sold a stake in his LA-based foreign sales company to The Cleveland Family LP.
The deal gives Noeltner a seven-figure acquisitions and marketing fund to acquire international sales rights on finished features and will enable the sales veteran to pursue product with renewed vigour in Toronto.
Russell Cleveland and sons Brian and Jason Cleveland head The Cleveland Family LP become significant minority shareholders.
Russell Cleveland is president and CEO of the investment management firm Renn Capital Group and the author of several books including Finding Midas.
Jason and Brian Cleveland wrote and produced the 2006 features Fingerprints and Soul’s Midnight. The brothers will serve as vice-presidents of acquisitions and business development at CMG.
Gray Frederickson, a co-producer on The Godfather II & III and Apocalypse Now, brokered the deal between Cleveland Family LP and CMG and will be a passive investor in the company.
“We were very impressed with Edward’s track record over his 20-plus years in the foreign sales business,” Brian Cleveland said. “Not only his work with Miramax International, during the golden days of that company, but also the wonderful work he’s done finding smart and unique ways to market and sell his films for other producers over the past five years, at CMG. In Toronto we will be hitting the ground running, looking for product to purchase and sell.”
“The Cleveland family has excelled in the professional way they have worked with growing companies in a variety of industries,” Noeltner said. “Both Jason and Brian share our passion and knowledge for the film business and we are on the same page for acquiring new quality, commercial features for international sales.
“What’s attractive about this deal for producers is that in addition to an advance, CMG will have the financial wherewithal to aggressively market its new acquisitions. We have the money.”
Richard Thompson of Hergott-Blum represented CMG in the deal and Jonathan Gardner of Cohen & Gardner represented the Cleveland Family Trust.
CMG’s slate includes Kazakhstan’s foreign language Oscar submission Kelin, which gets its North American premiere at Toronto; the romantic comedy Shotgun Wedding; and An Unlikely Weapon, a documentary about the renowned photographer Eddie Adams.
Rounding out the roster of new titles are Marleen Gorris’ drama Heaven And Earth; and Darwin’s Darkest Hour, National Geographic Television Production’s first scripted drama about the celebrated explorer and scientist that coincides with the world premiere of Toronto opener Creation.