Continental is Cotter's new initiative which plans to acquire 10 to 12 films in its first year. Cotter is in talks to secure the first titles, which will be a combination of Initial and non- Initial product.
They will be sold through Initial's sales and distribution structure headed by Eric Christenson.
Initial's legal, marketing and servicing departments will provide direct operational services and support to the new company.
'Initial has proven itself over and over again that it has the expertise, taste and drive to develop and distribute film projects of the highest calibre,' Cotter said. 'All around, it is a perfect fit for Continental on both the film financing and distribution sides.'
Cotter is president and chief executive officer of Continental Entertainment Group, and its two subsidiaries - Continental Pictures and Continental Entertainment Capital. An investing arm of Citi made a private equity investment in the company, has provided Continental Pictures with its own credit line for acquisition purposes and separately backs COntinental Entertainment Capital which will operate as a third party financing entity.
New York-based Benjamin Waisbren is Continental Entertainment Capital's president and chief executive officer, D Jeffrey Andrick is managing director of Continental Entertainment Capital and works out of Los Angeles.