Doha Film Institute (DFI) and Participant Media, known for films as An Inconvenient Truth, Food, Inc., The Help, The Best Exotic Marigold Hotel and Steven Spielbergs Lincoln, and have formed a USD 100 million revolving fund to finance a slate of feature films. The announcement was made jointly by Jim Berk, CEO of Participant Media, […]
Doha Film Institute (DFI) and Participant Media, known for films as An Inconvenient Truth, Food, Inc., The Help, The Best Exotic Marigold Hotel and Steven Spielbergs Lincoln, and have formed a USD 100 million revolving fund to finance a slate of feature films. The announcement was made jointly by Jim Berk, CEO of Participant Media, and Abdulaziz Al-Khater, CEO of Doha Film Institute.
The five-year revolving fund provides production and development funding for 12-16 feature films, with Participant and DFI working in collaboration to develop the films as well as oversee production and arrange worldwide distribution.
In addition to the Film Fund, Participant and DFI are exploring a joint venture to create content for Participants new television channel that will be launched in August; establishment of a distribution outlet for DFIs film production through Participants media interests in the US and other territories; creation of an Arabic version of TakePart.com, Participants on-line division and Social Action Network to jointly create Middle-East based content in Arabic and English for distribution around the world; and establishment of a Middle East branch of Participant to be based at DFIs Qatar headquarters.
Participant and DFI are presently co-financing, along with other parties, an animated feature film adaptation of Khalil Gibrans The Prophet, which is in production for release next year.
Speaking about the alliance, Berk said: This new relationship provides us with a partner whose goals of international expansion and desire to co-finance a diverse slate of films that entertain, enlighten and engage with global audiences are in total alignment with our own long-term business strategies. It also gives us the ability to extend the audience for our socially-relevant storytelling to the Middle East, and to mine new sources of compelling content for our digital and TV platforms.
Al-Khater added that both companies share a common vision to finance and produce films that are both commercially successful and socially relevant.
We are confident that this collaboration will be a catalyst for greater cross-cultural appreciation as we embark on a diverse and exciting set of projects. The partnership gives us the opportunity to reach and inspire broader audiences, and expand our platforms for the development, promotion and distribution of compelling storytelling.
The deal was negotiated by DFIs Head of Film Financing, Paul Miller and Hal Sadoff DFIs advisor/consultant on behalf of DFI and Jeff Ivers, Chief Operating Officer, Participant Media.
