Shamrock Capital has entered into a long-term partnership with New Regency that will see the Los Angeles-based investment firm’s content strategy division acquire participation in the cash flows of the production company’s film and television library.
“We are thrilled to partner with New Regency’s leadership team as they embark on their next phase of growth through this innovative financing transaction,” Shamrock Capital partners Jason Sklar and Patrick Russo said in a statement. “Our investment philosophy centers on supporting premium and evergreen content, and New Regency’s acclaimed film and television library, which includes iconic titles and award-winning stories, is Best In Class across the global landscape of independent studios.”
“New Regency has always taken a nimble, creator-first approach to the business,” New Regency Chairman and CEO Yariv Milchan added. “By aligning with Shamrock, a partner that shares our vision and values, we’re able to position the library as a dynamic asset within the company’s broader content ecosystem strategy — one that will allow the asset to continue to thrive independently while we pursue bold, new creative endeavors.”
At the same time, New Regency’s production arm entered into a standalone production credit facility for borrowing in connection with its new film, TV and media projects. This includes building on its past IP to create innovative content, alongside a new credit facility supporting its library. The credit facilities are provided by JPMorgan Chase.
The Shamrock partnership will not be used to fund the production arm and the firm is not taking an equity stake in New Regency.
New Regency’s library, which has been curated over 35 years, includes titles such as “Bohemian Rhapsody,” “The Revenant,” “Birdman,” “12 Years a Slave” and “Heat.”
Upcoming feature projects include “Blood Meridian,” based on the novel by Pulitzer Prize winner Cormac McCarthy, written by Oscar winner John Logan and directed by John Hillcoat; and “Watch Dogs,” an adaptation of Ubisoft’s best-selling video game franchise starring Tom Blyth and Sophie Wilde.
Other titles include Steve McQueen’s “Blitz” (Apple TV+); “The Bikeriders” (Focus Features); an untitled Elon Musk documentary from Alex Gibney (HBO); “2073,” directed by Academy Award winner Asif Kapadia; and “Jimi,” a Jimi Hendrix documentary from Emmy nominee Bao Nguyen.
On the television side, New Regency’s slate includes Season 2 of Prime Video’s “Mr. & Mrs. Smith,” a “Malcolm in the Middle” limited series for Disney, Netflix’s “Man on Fire” and Apple TV+’s “Prime Target” starring Leo Woodall.
J.P. Morgan Securities LLC acted as capital structure advisor to New Regency on the transaction, and JPMorgan Chase Bank, N.A. acted as sole bookrunner on the credit facilities. Latham & Watkins acted as lead legal advisor to New Regency, Sidley Austin acted as legal advisor to Shamrock Capital and DLA Piper acted as legal advisor to the lenders.
