Bill Block has finalized plans to leave his post as CEO of film production and sales company QED International, according to an individual with knowledge of the situation.
Block will segue to focus on Merced Media, the development, production and financing venture he launched in October with Kevin Frakes, CEO of PalmStar Media Capital, and Raj Singh’s investment firm Merced Capital.
As CEO of QED, Block served as producer on such films as Neill Blomkamp‘s “District 9″ and “Elysium,” David Ayer‘s “Fury” with Brad Pitt and the upcoming Bill Murray movie “Rock the Kasbah.” QED and Media Content Capital will be involved in projects in partnership with Merced Media.
Since Merced Media was announced, Block has been focusing on business there, working with Frakes and Singh. He will wrap up business at QED by producing films “Birth of the Dragon” and “Yellowstone Falls.” Merced has the option to co-finance those projects.
Merced plans to focus on filmmaker and star-driven wide release movies and will seek to produce a $500M+ slate of films over the next 3-5 years.