Limerick lines MDP with $17.5 mil

Companies continue talks for first-look pact with Jackson

NEW YORK — Limerick Assets, aka Music Box, has closed a deal to invest $17.5 million in film producer-financier-distrib MDP Worldwide Entertainment.

Music Box, one of numerous businesses owned by Chinese billionaire Cheng Kar-Shun and managed by Cheng family administrator Sammy Lee, bought 260 million convertible preferred shares of MDP, exchangeable on a one-to-one basis into class B subordinate voting shares.

“This equity investment represents a significant breakthrough for our company and will enable us to move forward with our strong slate of theatrical feature films,” said Mark Damon, chairman and CEO of MDP. “This certainly elevates us to the highest level of the independent film business.”

Seeking deal with Jackson

Music Box and MDP are continuing to negotiate for a first-look pact with singer Michael Jackson and his film-producing partner, Raju Sharad Patel.

With offices in Montreal and Los Angeles, MDP Worldwide finances, develops and produces an array of feature pics. Company is making “The I Inside,” starring Ryan Phillippe, Robert Sean Leonard, Sarah Polley, Piper Perabo and Stephen Rea.

Want to read more articles like this one? SUBSCRIBE TO VARIETY TODAY.
Post A Comment 0

Leave a Reply

No Comments

Comments are moderated. They may be edited for clarity and reprinting in whole or in part in Variety publications.

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

More Film News from Variety

Loading