Private equity firm extends deal with Sony with aim of financing slate of low-budget features in 2011-12
African private equity firm RCR Media Group announced that it has extended its deal with Sony Pictures with the aim of helping the studio finance a slate of low-budget genre films.
Here's the full RCR announcement:
RCR MEDIA GROUP EXTENDS PARTNERSHIP WITH SONY PICTURES WORLDWIDE ACQUISTIONS
African Investor to Finance Films with Major Studio Partners
Los Angeles – February 23, 2011 – Rui Costa Reis and Eliad Josephson of RCR Media Group, a private equity film financing company in Beverly Hills announced an extension of their deal with Sony Pictures Worldwide Acquisitions (SPWA) to co-finance a slate of feature films for 2011 and 2012. RCR and SPWA first partnered in 2009 to produce blockbuster sequels such as 30 Days of Night: Dark Days and Stomp the Yard: Homecoming.
The 2011 slate will include S.W.A.T.: Firefight, Hostel Part III, and Quarantine 2: Terminal. It will also include acquisitions such as The Hit List starring Cuba Gooding Jr. (Jerry Maguire, Men of Honor).
RCR Media Group Chairman Rui Costa Reis said: “We are looking to partner with like-minded studios on the world-wide release of high-quality, commercial films. With long term business plans in place and a diversified film slate, we are positioned to become a brand name in film financing.”
Through this financing unit, Costa Reis plans to announce additional studio deals and partnerships in the coming months.
RCR Media Group Chairman Rui Costa Reis and CEO Eliad Josephson will serve as the executive producers on all titles. Commenting on the recent deal, Josephson said: “We are proud to have the opportunity to co-finance with Sony Pictures Worldwide Acquisitions multiple films over a number of years. After finding an ideal partner in Sony, it was only natural to extend our relationship.”
Costa Reis was born and raised in Angola, and splits his time between Angola, Europe and the United States. A self-made businessman, he is dedicated to improving the quality of life in Angola and closing the cultural circle between the United States and Angola.
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