Haim Saban‘s Saban Capital Group is entering the movie business.
The private investment firm, which specializes in media, entertainment and communications industries, tapped former RLJ Entertainment chief acquisitions officer Bill Bromiley as the president of the new studio. Bromiley will head to Cannes in search of 8-10 film that the studio will then look to distribute with a major distribution partner, with whom “they are currently in talks.”
Going forward, Saban Films will look at projects in all stages of production, from script to completed product.
“I have a long-standing and deep affection for independent film and saw an opportunity in the theatrical distribution arena as well as an emerging distribution platform strategy that focuses on cable, satellite, and telco VOD,” Haim Saban, who first became known for his work in children’s television, said. “Film is a natural progression for Saban Capital Group with existing interests already in television, media and brands.”