MacLennan charged with raising finances for features
HOLLYWOOD — Doug MacLennan has joined Axial Entertainment in the newly created post of VP investment/finance.MacLennan will leverage his Wall Street background, which includes seven years with Merrill Lynch’s investment banking and corporate strategy groups in New York, London and Hong Kong, to raise financing for Axial features on a project-by-project basis. Axial CEO Riaz Patel said the company will seek financing for outside film packages as well as internally generated projects. Axial’s structure is roughly based on the old studio system of the 1940s, in that development executives work with writers to develop material as it’s written rather than afterward. After spending seven years around the globe as an investment banking analyst, MacLennan began his entertainment career in the William Morris Agency’s trainee program before earning his MBA at New York U.’s Stern School of Business.