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CANNES 2011 Market / UK-US

Prescience stumps up $50m for Mandalay projects

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Tim Smith, managing director of London-based Prescience, the film financier behind the Oscar-winning film The King's Speech [+see also:
film review
trailer
interview: Tom Hooper
film profile
]
, has entered into a two-year multi-picture financing deal with Mandalay Pictures.

Under the terms of the deal, Prescience will provide $50m of production financing for a slate of up to six feature films over the next two years to be produced by Mandalay Vision.

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Newly launched Ealing Metro, the Prescience/Ealing Studios joint venture, has an option to handle international sales on all titles under the deal.

Projects will be greenlit and jointly financed by Mandalay Vision and Prescience. Budgets are expected to range between $5m-$15m, with the majority of the production financing being provided by Prescience.

“We are really pleased to be announcing this exciting new deal with Mandalay. Cathy Schulman and the team at Mandalay have built a reputation for working with high caliber filmmakers who have a unique vision and proven track record in the international marketplace. Mandalay’s sensibility and entrepreneurial business approach and profile in the US is tremendous and we look forward to working with them on this slate deal,” said Smith.

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