Los Angeles-based Seven Arts Pictures has struck a deal with Manchester, UK-based financial services company Zeus Partners to raise investment capital for Seven Arts' production and distribution activities.
The first part of the investment closed March 19 and the rest is expected to close by the end of June.
The investment covers current projects as well as future acquisitions.
If investment bank Zeus raises the maximum investment, Seven Arts said it would reduce its current and future film costs by $16m (£8m).
Seven Arts' current productions include Deal starring Burt Reynolds and Shannon Elizabeth, Noise starring Tim Robbins and American Summer starring Matthew Lillard.
No comments yet