Exclusive Media Group’s executives arrive at the Sundance Film Festival flush with cash from a film pickup fund that the company announced on Thursday.
The company also announced that Alex Brunner is Exclusive Films International’s new co-president. Brunner previously was the company’s senior vice president of production and operations.
The fund will allow Exclusive Films International to “pick up” movies and pay guarantees of up to $20 million per film, and hopes to pick up between two and four films each year. Exclusive also will be looking at potential acquisitions for Exclusive’s U.S. distribution label, Newmarket Films.
“We have substantial resources from our shareholders to fund productions as we are doing with Peter Weir’s “The Way Back,” or George Clooney’s “The Ides of March,” or the Daniel Radcliffe starrer “The Woman In Black.” However, this film pickup fund allows us to also take a piece of finished films from third parties — films in production and films where our distribution guarantee will form part of the finance plan of the movie,” said Nigel Sinclair and Guy East in a written statement.