Media 8 to continue distrib'n division, licensing
Indie film production and financing shingle MDP Worldwide has changed its name to Media 8 Entertainment and will refocus its business to expand its reach in financing and production.
Media 8 will also continue to operate the in-house distribution division to license both international and domestic rights to its feature films.
“Media 8 Entertainment is now one of the few independents in the marketplace that has the financial resources to ‘greenlight’ feature films without pre-sales,” said Media 8 chairman and CEO Mark Damon. “For the last 10 years, MDP Worldwide has established itself as one of the leading international sales companies, and the name change signifies our new company mission to focus on financing and producing films, both on our own and in conjunction with our strategic international partners.”
“Since making a significant equity investment in MDP Worldwide, we have been extremely pleased to see how the company’s production slate has started to markedly increase and become the cornerstone for our ongoing operational efforts,” said Media 8’s vice chairman Sammy Lee, who represents the majority ownership interest of the company. “Our name change symbolizes a new identity and will define a benchmark for us to bring Media 8 to a higher level and become a powerful icon in the motion picture business. Moreover, our change in business strategy will enable us the opportunity to selectively pursue investments in various other media-related businesses.”
The new company name and logo will be added to all of the company’s upcoming productions and releases. These include the Charlize Theron/Christina Ricci starrer “Monster”; the Mike Binder-directed “The Upside of Anger”; the Barbara Kopple- directed “Havoc,” penned by Stephen Gaghan; “11:14,” starring Hilary Swank, Rachael Leigh Cook, Patrick Swayze and Barbara Hershey; and “The United States of Leland,” starring Kevin Spacey, Ryan Gosling and Don Cheadle.