MadRiver Pictures has closed a multi-year equity financing and distribution deal with several key international distribution partners, which it says will give it the ability to fully finance mid-budget films in the $25-$75m range for the global theatrical marketplace.
Among distributors who have invested in the venture are SND in France, Leonine Studios in Germany and Austria, Shochiku in Japan, DeAPlaneta in Spain, Eagle Pictures in Italy, IDC Distribution in Latin America, Italia Film in the Middle East, and Unicorn Media in Eastern Europe.
The first title will be announced in the run-up to Cannes and will start shooting this fall. Each company will distribute features financed by the venture in their territories.
The deal structure allows MadRiver to commit to financing and greenlighting films prior to taking them to market or selling US distribution rights.
MadRiver will produce and independently finance tentpole, star-driven films, with a focus on the action, thriller and adventure genres. The new venture looks to produce two to three films a year.
Marc Butan, founder and CEO of MadRiver, said: “Collectively, this group of international distributors brings an economy of scale that rivals the US studios.
“The ability to provide talent with greenlight certainty and greater creative control, while also guaranteeing world-class theatrical distribution, will allow us to keep coveted commercial projects with A-list talent in the independent marketplace.”
Butan structured the arrangement with CAA Media Finance with the support of MadRiver’s sister sales company The Veterans.
CAA Media Finance and The Veterans will handle worldwide sales on titles financed under the deal.
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