OPEN ROAD FILMS PARTNERS WITH RIVERSTONE PICTURES FOR MULTI-YEAR PRODUCTION FINANCING DEAL
Open Road Films and Riverstone Pictures today announced a multi-picture production financing pact for all of Open Road Films’ own productions over the coming years. The announcement was made by Tom Ortenberg, CEO of Open Road Films and Deepak Nayar and Nik Bower, co-founders of Riverstone Pictures.
The first film under the agreement will be SLEEPLESS NIGHT, starring Jamie Foxx and Michelle Monaghan, directed by Baran bo Odar, which will shoot in Atlanta and Las Vegas this summer. Two to four films a year are expected to go through the deal, with each picture getting a wide domestic release via Open Road while foreign sales are handled by Open Road International and Film Nation.
Riverstone Pictures is a Reliance Entertainment company founded by Deepak Nayar and Nik Bower and is backed by Ingenious Media. It was formed in 2014 when it came on board to fund the John Logan-scripted drama “Genius” starring Colin Firth, Jude Law, Nicole Kidman and Laura Linney. Riverstone Pictures expects to finance eight to ten productions in the $10m to $50m budget range each year outside its deal with Open Road Films.
Deepak Nayar stated, “Open Road has quickly established itself as a major player in the domestic distribution market with excellent taste in material and a proven expertise in marketing and releasing their films. It was natural fit as a next step for Riverstone Pictures.”
“We are delighted to be in business with Riverstone Pictures,” added Tom Ortenberg, “A company that combines heavyweight financing from major backers with an agile, entrepreneurial approach resonant of our own.”
The deal was negotiated by Tom Ortenberg, CEO, and Elliott Kleinberg, Chief Operating Officer and General Counsel, on behalf of Open Road Films and by Deepak Nayar and Nik Bower for Riverstone Pictures.
ABOUT OPEN ROAD FILMS
Open Road Films is a leading, independent, theatrical motion picture company, releasing a diverse slate of star-driven films which has included multiple #1 releases. It was founded in 2011 by AMC Entertainment Inc. (AMC) and Regal Entertainment Group (Regal), the two largest theatrical exhibition companies in the United States. Open Road and its lenders recently extended the company's $100,000,000 credit facility through 2018.
Current and past releases include: Nightcrawler, starring Jake Gyllenhaal, which took the #1 spot at the box-office during its opening week and received an Oscar® nomination for Best Original Screenplay, along with a Golden Globe nomination – it was named one of the best films of 2014 by the AFI and National Board of Review and top critics nationwide; the hit film Chef, written by, directed by and starring Jon Favreau along with Sofia Vergara, Scarlett Johansson, John Leguizamo, Bobby Cannavale, Oliver Platt, Dustin Hoffman and Robert Downey, Jr.; The Nut Job, which opened to over $25 million at the box office as the highest ever opening for an independent animated film; The Grey, directed by Joe Carnahan and starring Liam Neeson, which opened #1 at the box office; End Of Watch, directed by David Ayer and starring Jake Gyllenhaal and Michael Peña, which opened #1 at the box office; Rosewater, written and directed by Jon Stewart; A Haunted House starring Marlon Wayans; and Side Effects, directed by Steven Soderbergh and starring Rooney Mara, Jude Law, Catherine Zeta-Jones and Channing Tatum.
Upcoming releases include: Dope (6/19/15), a critical hit and audience favorite comedy out of the Sundance Film Festival and the Cannes Film Festival, written and directed by Rick Famuyiwa; Triple Nine, a thriller directed by John Hillcoat starring Chiwetel Ejiofor, Casey Affleck, Anthony Mackie, Woody Harrelson, Aaron Paul, Kate Winslet, Gal Gadot, Norman Reedus, Teresa Palmer and Clifton Collins, Jr. (9/11/15); Rock The Kasbah (10/23/2015), starring Bill Murray along with Bruce Willis, Kate Hudson, Zooey Deschanel, Danny McBride and Scott Caan, directed by Barry Levinson; the Untitled Oliver Stone/Edward Snowden Project (12/25/15), written and directed by Oliver Stone starring Joseph Gordon-Levitt and Shailene Woodley; Spotlight, directed by Thomas McCarthy, starring Mark Ruffalo, Michael Keaton, Rachel McAdams, Liev Schreiber and Stanley Tucci; and Sleepless Night starring Jamie Foxx and Michelle Monaghan.
ABOUT RELIANCE ENTERTAINMENT
Reliance Entertainment is part of India's Reliance Group, and has a significant presence in filmed entertainment, radio and TV broadcasting, new media ventures and state-of-the-art integrated film and media services.
Internationally, Reliance Entertainment has partnered with legendary producer-director, Steven Spielberg, in the formation of DreamWorks Studios as a 50:50 Joint Venture to produce films for global audiences.
The Help, War Horse, Lincoln and Hundred Foot Journey are some of the recent films produced by DreamWorks Studios, receiving wide critical and popular acclaim.
The Reliance Group is led by Chairman Anil D. Ambani, and is amongst India's largest business houses, with interests in telecommunications, energy, defense, financial services, infrastructure, and media and entertainment.
ABOUT INGENIOUS
Ingenious is the leading independent investor in the UK’s creative industries, founded by Patrick McKenna in 1998.
Ingenious Investments is the manager of a wide range of businesses spanning the media & entertainment, clean energy and real estate sectors.
Ingenious Corporate Finance provides comprehensive advice on strategy across a wide range of transactions focusing particularly on the media and entertainment sectors.
Ingenious Asset Management provides discretionary investment management solutions to private investors.
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