MUMBAI: Two of Hollywood's veteran producers namely Arnon Milchan and Terry Semel
are in plans to launch a $1 billion-plus fund to finance studio projects.
duo is fashioning a pitch that draws two key distinctions from past film-fund
deals: Milchan and Semel would be hands-on exec producers of the films that get
funding. The duo would pick and choose from projects all around town rather than
strike an exclusive deal with any one studio.
and Semel believe the dearth of outside financing has Hollywood in a particularly
receptive mood for their pitch.
think that with there being no slate financings around and with their specifice
pedigrees and reputations in the business, it's a great time for them to do this,"
said a financial community insider."
sorts of people are saying they don't want to invest in Hollywood anymore. So
Arnon and Terry are saying to the studios, 'There is nobody better than us to
do this for you; the fund will be run by the most experienced professionals this
time," he added.
plan would see Milchan and Semel each contribute $200 million or more to set up
the fund, while turning to banks and other lenders for additional capital.
it's unlikely Milchan and Semel will be without competitors for long in this new
fund to be launched by Milchan and Semel is expected to be unveiled this year.