Pathe and
The parties have committed aminimum of $560,000 (£300,000) for the fund's first 12 months - $280,000 (£150,000)from the UK Film Council and $140,000 (£75,000) each from
The new fund, to be usedonly for feature films, is functional immediately. The parties said that by"combining resources to identify properties with commercial potential thatmight previously have been seen as too expensive to either acquire or develop."
They noted that above andbeyond the initial seed funding, Pathe and the
"We've nothingin development yet - we want the announcement to act as a signal to theindustry that we're willing to pay top dollar for the right project.There is no ceiling on the level of investment we might make in the rightproject," Pathe deputy managing director CameronMcCracken told ScreenDaily.com.
Pathemanaging director Francois Ivernel noted that the newfund would help these
David Thompson, head of
Added Jenny Borgars, head of the UKFC'sDevelopment Fund: "Providing British producers with real resource todevelop partnerships that both benefit their businesses and allow them toacquire attractive film material was one of the prime reasons for setting upthe slate funding machinery. I'm absolutely delighted for Patheand the
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