David Linde closes funding for new company with Reliance Entertainment

May 25, 2011 - 12:00 AM IST

David Linde and Reliance Entertainment jointly announced today the official formation and funding of Linde's new company, a new platform for film production and financing. Reliance Entertainment is providing the capital to finance the yet unnamed new venture. Working from a global distribution structure combining studio and independent distribution, the company will both produce and finance projects creating a clear "brand" of films designed for the worldwide marketplace.

For nearly two decades, Linde has proven a unique ability to join a singular vision with the intricacies of the domestic and international film marketplace. The new entity is specifically designed to take advantage of Linde's experience in successfully bridging studio and independent production and distribution while managing and building both existing and start-up companies.

David Linde closes funding for new company with Reliance Entertainment

"Our company is designed in response to a changing world. We have the opportunity to tap into the global industry's desire for films while at the same time build a business that offers opportunities to our creative partners by harnessing both traditional means of distribution as well as new technologies, platforms and markets," said Linde. "Reliance has already proven itself a great partner and we look forward to working with them as we enter this new world."

Linde has simultaneously concluded a production and distribution agreement for the new company with Universal Pictures, whereby Universal will have the first option to co-finance each developed project and distribute the films in the United States and other significant international territories. For films that Universal does not distribute domestically, Linde will produce and distribute such films with other motion picture studios.

"Over the years David has proven himself as an adept builder of content-based companies and Universal has been a beneficiary, said Universal Chairman Adam Fogelson and Co-Chairman Donna Langley. "We look forward to being part of his new venture."

Added Linde, "Universal gave me the time, money and space to form a plan that we all believe in and can execute on. Their contribution has been significant and very much appreciated."

Outside of the Studio distributed territories, the new company will maintain a network of direct output partnerships in several key territories around the globe, serving to complete its worldwide distribution platform. The company has recently concluded output deals for all its productions with the following companies:

o Entertainment One (eOne) for Canada, the UK and Benelux (Belgium, Netherlands, Luxembourg)
o Italia Films for the Middle East, Greece and Turkey
o Nordisk Film for the Nordic Countries (Denmark, Sweden, Norway, Finland and Iceland)
o Revolutionary Films for Eastern Europe (excluding Russia)
o Sun Distribution for Latin America
o Tele M