VILLAGE ROADSHOW PICTURES LAUNCHES RENEWAL OF $750M FILM PRODUCTION FACILITY TO BOOST UPCOMING SLATE WITH WARNER BROS. AND SONY PARTNERSHIPS
LOS ANGELES, CA (SEPTEMBER 14, 2015) – Village Roadshow Entertainment Group (VREG) has completed a $480 million recapitalization, including $325 million of new capital from a consortium of worldwide investors (including Vine Alternative Investments, Falcon Investment Advisors, and Village Roadshow Limited). The facility was arranged by the Company and placed by J.P. Morgan Securities LLC, with Moelis & Company acting as financial adviser to the Company.
Village Roadshow Pictures (VRP), working with its joint syndication agents Rabobank International and J.P. Morgan Securities LLC, has also launched a renewal of its $750 million film production facility. The facility finances VRP’s library of titles co-produced with Warner Bros. Pictures, Sony Pictures, and other major distributors.
“This funding demonstrates the underlying strength of Village Roadshow Pictures and its longevity in the industry,” said Graham Burke, VREG Chairman and Co-Chairman & Co-Chief Executive Officer, Village Roadshow Limited.
“With this new phase, we are thrilled to be moving towards our third decade of filmmaking in partnership with Warner Bros. and the start of our journey with Sony,” said Greg Basser, Chief Executive Officer, Village Roadshow Entertainment Group. “This capital will strengthen VREG’s financial resources and our capacity to make more films.”
“We are excited to continue growing our lineup of co-produced films with our partners and build off recent hits American Sniper and Mad Max: Fury Road with highly anticipated films including In The Heart of the Sea and King Arthur with Warner Bros. and Concussion and Ghostbusters with Sony,” said Bruce Berman, Chairman and Chief Executive Officer, Village Roadshow Pictures.
After almost twenty years, VRP stands as one of the leading independent film production companies with a library of 85 films generating over $15 billion in global box office receipts under key partnerships with Warner Bros. Pictures and Sony Pictures.
Upcoming Village Roadshow Pictures releases in 2015 include “Goosebumps” starring Jack Black, directed by Rob Letterman (October 16, 2015), “In the Heart of the Sea” starring Chris Hemsworth and directed by Ron Howard (December 11, 2015), and “Concussion” starring Will Smith and directed by Peter Landesman (December 25, 2015).
The 2016 releases include “Grimsby” starring Sasha Baron Cohen and Mark Strong, directed by Louis Leterrier (March 4, 2016), “Tarzan” starring Alexander Skarsgard, Margot Robbie and Samuel L. Jackson, directed by David Yates (July 1, 2016), “Ghostbusters” starring Melissa McCarthy and Kristin Wiig, directed by Paul Feig (July 15, 2016), “King Arthur” starring Charlie Hunnam and Jude Law, directed by Guy Ritchie (July 22, 2016), “The Magnificent Seven” starring Chris Pratt, Denzel Washington and Ethan Hawke, directed by Antoine Fuqua (September 23, 2016), and “Passengers” starring Jennifer Lawrence and Chris Pratt, directed by Morten Tyldum (December 21, 2016).
The initial 2017 titles include “The Equalizer 2” starring Denzel Washington (September 29, 2017) and “Ready Player One” directed by Steven Spielberg (December 15, 2017).
The facility will also support upcoming product out of the Village Roadshow Pictures Asia (VRPA) label including the release of “Mountain Cry,” which will close the Busan Film Festival next month. VRPA, headed by Asia President and Chief Executive Officer, Ellen Eliasoph, celebrates its fifth anniversary in 2016.