PR: Indie Distrib Snags P&A Funding
Context from author Robert Marich are at bottom of this file.
Press Release Sept. 11, 2007
Proud Mary Entertainment Rolls into Regent’s $50 million P&A Fund
Regent Releasing Hires Indie Producer to Extend Existing $50 million P&A
LOS ANGELES--(BUSINESS WIRE)--Regent Releasing Chairman Stephen P. Jarchow and CEO Paul Colichman announced today that they have hired Proud Mary Entertainment president Mary Aloe to source acquisitions for its existing $50 million P&A fund. The fund was established through Merrill Lynch to provide strategic print and advertising support for a diverse slate of independent features. Mary Aloe will represent Regent at this week’s Toronto International Film Festival to help find an initial slate of independent projects for the fund.
“We are pleased to have one of the brightest independent producers to assist us on this fund,” said Mr. Jarchow. “The mission of the fund is to broaden and diversify Regent’s role in the independent film market and diversify Regent’s existing distribution slate.”
In 2006-07 Aloe produced and financed six pictures, including “While She Was Out” starring Kim Basinger and Lukas Haas, “Tortured” starring Laurence Fishburne and James Cromwell, “Numb” starring Matthew Perry, Mary Steenburgen, “When a Man Falls in the Forest” starring Sharon Stone and Timothy Hutton, and “Battle in Seattle” starring Charlize Theron, Woody Harrelson, Andre Benjamin, and Channing Tatum, which will make its world premiere at this year’s Toronto International Film Festival.
“I see this alliance as a platinum opportunity. I am very excited about Regent Releasing and our developing relationship. We look forward to providing independent producers a voice in the theatrical marketplace,” says Aloe.
Regent and its affiliates finance, produce and distribute award-winning, profitable theatrical and television content. The 13-year-old company produces and/or distributes at least twenty feature films annually and maintains a substantial and expanding digitized library of over 3,500 titles. Regent has its own full-service motion picture studio (Regent Studios, LLC), international sales force (Regent Worldwide Sales, LLC), theatrical releasing (Regent Releasing, LLC) and movie theaters (Regent Theaters, LLC).
Regent's Gods and Monsters, starring Sir Ian McKellen, Lynn Redgrave and Brendan Fraser, received three Academy Award nominations and won the 1999 Academy Award for Best Adapted Screenplay. Regent's principals also received two Academy Award nominations for Tom and Viv, as well as numerous awards for One False Move and other motion pictures.
About Regent Releasing
Regent Releasing is dedicated to distributing first-rate independent films to theater venues throughout the United States. Regent Releasing emphasizes top-notch customer service and diligent collection efforts while maintaining flexibility and sensitivity to the independent filmmaker. Utilizing its close working relationships with theaters all across the country has allowed Regent to assure meaningful theatrical releases for its projects and has given the company a powerful advantage in distribution negotiations and enhanced ancillary revenue. Recent titles include: The Hunting of the President, concerning the right-wing agenda to destroy Bill Clinton; festival favorite Summer Storm, an import from Germany about a young man coming out in the world of soccer; the timely political drama Poster Boy; the Spanish comedy Queens, featuring some of the first ladies of Spanish cinema; Franco Zeffirelli’s Callas Forever, starring Jeremy Irons and Fanny Ardant; Aurora Borealis, starring Donald Sutherland, Joshua Jackson, and Juliette Lewis; the Broadway documentary Showbusiness; and the drama Stephanie Daley, starring acclaimed actresses Tilda Swinton and Amber Tamblyn.
About Proud Mary Entertainment
Considered one of Hollywood’s most prolific up-and-coming female producers, Mary Aloe formed Proud Mary Entertainment, Inc., a Beverly Hills based Feature Film/Television Production and Talent Management Company, in 1999. The five-person company specializes in developing and producing independent and studio features, television series (MTV’s “Room 401” with partner Ashton Kutcher and “The Nancy Grace Project”), network and cable event movies. Mary Aloe and Proud Mary Entertainment specialize in obtaining 100% financing for features by raising private equity, working with hedge funds, gap financing, the top tier of foreign sales companies and securing domestic distribution.
2006/2007 has been a banner year, Proud Mary Entertainment has been enjoying a run with a record slate of six features, all in various stages of production. Given this ambitious pace of production, the company is garnering a reputation as a mini-studio.
Comments from author Robert Marich….Prints and advertising funds provide marketing expenses for films financed with other money. While frequently talked about, P&A vehicles are few and far between, since the films with the best economic prospects typically have P&A provided by their distributors. Also, P&A funding usually is the “last money in" and “first money out" – meaning that the initial income that a film generates immediately pays off the P&A funder. This arrangement is difficult to structure since banks and other financiers, which sunk money into a film in early stages, must wait until the P&A funder recoups. Marketing to Moviegoers discusses P&A funds at length in Chapter 12 (see bottom of adjacent right hand column).