The first feature to come out of the new company will be Squatters, directed by Martin Weisz and scheduled to shoot in May.
Producers Julius R. Nasso and Todd Moyer are launching a new film financing and production entity, Wakefield International Pictures.
The new outfit will have offices in LA and New York and plans to package, finance and produce between four to six films per year.
The first film on the new slate will be Squatters, directed by The Hills Have Eyes II director Martin Weisz and starring Thomas Dekker and Gabriella Wilde as a young homeless couple in Venice Beach who move into a mansion in the Pacific Palisades while the owners are on vacation. The script has been written by actor Justin Shilton.
Shooting starts on the project next month, with Julius Nasso, Todd Moyer and Cordula Weisz producing. Frankie Nasso and Jeff Kranzdorf will executive produce.
More projects are expected to be announced in the coming weeks.