Exclusive Films International (EFI) has launched a film pick-up fund and has also announced that longtime executive Alex Brunner has become EFI’s new co-president.
The new fund will set aside resources to enable EFI president of sales and distribution Alex Walton, Brunner and their team to acquire films and pay guarantees of up to $20m, the company said last night .
The goal is to bring in up to two to four films a year. EFI will take all or select international territories on the projects and will not serve as producer or co-producer.
Brunner previously served as Exclusive’s svp of production and operations and joined Exclusive Media Group co-chairmen Guy East and Nigel Sinclair 10 years ago, playing a key role in the launch of Spitfire Pictures in 2003. He also produced Let Me In.
Brunner previously served at Intermedia Films under Sinclair who was then the company’s co-chairman.
“We have substantial resources from our shareholders to fund productions as we are doing with Peter Weir’s The Way Back, or George Clooney’s The Ides Of March, or the Daniel Radcliffe starrer The Woman In Black,” Sinclair and East said.
“However, this film pick-up fund allows us to also take a piece of finished films from third parties – films in production and films where our distribution guarantee will form part of the finance plan of the movie.”
“I have enormous respect for Alex Brunner who brings his stellar production, development and business affairs background to Exclusive Films International at a time when the company is producing some of the biggest films in our group’s history,” Walton said.