Endgame Entertainment and FCTP set up investment company
On Tuesday, September 2 at the Venice Film Festival, an agreement was signed between US corporation Endgame Entertainment and the Piedmont Region, through the Turin Piedmont Film Commission, for the creation of a new investment company.
The role of the new company – a rare and unique scheme in the Italian film industry – is to offer support in terms of financing, production, and as a guarantee fund. With an initial budget of €14m, the company will focus on film projects aimed at the international market.
The budget allocated for each individual film cannot exceed €4m or 25% of the total budget. Moreover, 20% of the overall budget must be spent on the Piedmont territory.
Two joint committees – one entrusted with financial analysis and the other with cultural assessment – will be assigned the task of selecting the projects, the first of which will be ready during the course of 2009.
The Turin Piedmont Film Commission, although maintaining its original role of supporting audiovisual works made in the region, also becomes to all effects a financial body and stakeholder in the newly-formed company.
Endgame Entertainment, an independent production company based in Los Angeles, has produced, among others, Todd Haynes’ I’m Not There (Bob Dylan biopic which won a Golden Globe Award) and Hotel Rwanda (nominated for an Oscar in 2005).
(Translated from Italian)
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