Buoyed by the ongoing success of Borat and The Devil Wears Prada, Fox Filmed Entertainment (FFE) and DuneEntertainment have extended their movie co-financing deal.
Dune is investing another $325m in 16 additional Fox filmsto be announced in due course. Fox retains worldwide distribution rights on alltitles. Dune originally invested $325m in 28 films last January.
'Dune's renewed commitment is a credit to the ongoingstrength and consistency of Fox's record, with the company coming off its fifthconsecutive record-breaking year, and we are very pleased to continue oursuccessful collaboration with Dune Entertainment,' FFE's executive vicepresident, production finance and business affairs, Victoria Rossellini, said.
'We are very pleased to extend our strategicrelationship with Fox to include an additional 16 films,' Steven Mnuchinand Chip Seelig of Dune Capital Partners II LP, the managing member of DuneEntertainment, said. 'We continue to be strong believers in Fox's longterm track record of producing quality entertainment content.'
Dresdner Kleinwort acted as sole lead advisor, arranger andunderwriter of the financing for Dune Entertainment in connection with thetransaction.
Borat has grossed$90.5m in North America and $135m worldwide, while The Devil WearsPrada is closing in on $300m worldwide.