$250 Million Fund Will Finance 15-18 Films Over Five Years
Participant Media and imagenation abu dhabi have formed a $250 million fund to finance a slate of feature films. The five year revolving fund provides production and P&A funding for 15-18 feature films. The fund was announced today by Jim Berk, CEO of Participant Media, and Edward Borgerding, CEO of the Abu Dhabi Media Company and imagenation.
Participant Media is the leading independent provider of content that inspires and compels social change. imagenation abu dhabi is a wholly-owned subsidiary of Abu Dhabi Media Company, created to develop, finance and produce content for both the global and Arabic language markets.
Jim Berk, CEO, Participant Media said, “Since its founding, Participant has partnered with outside co-financiers on most of our films, and our long term strategy has been to find a partner we can align with over multiple films during the next five years to both accelerate our expansion and increase our efficiency. This fund with imagenation abu dhabi will increase our capacity to make films that not only entertain but also raise awareness of issues and inspire social change. The partnership will expand our international presence and allow us to step up achievement of our business goals.” Participant will take the lead in developing the films as well as overseeing production and arranging worldwide distribution.
Edward Borgerding, CEO of imagenation abu dhabi and Abu Dhabi Media Company
said, "Participant Media is one of the most respected and successful independent film companies doing business today. Imagenation abu dhabi is looking forward to this partnership and to being a part of their growing legacy of visionary filmmaking. We are delighted to confirm this first, milestone joint venture just one week after announcing imagenation abu dhabi.”
Berk said, “We are grateful for the invaluable guidance of Stefan Brunner, CFO, imagenation abu dhabi and Participant’s EVP of business affairs, Jeff Ivers.”
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