Miracle finds cash fund and partners

Coin used to finance P&A for 8 to 10 pix

Miracle Film Distribution has announced a $500 million partnership with media investment fund Global Media Management and international advisory consortium Asida Group that will finance prints and advertising for new theatrical releases.

Under the plan, the fund will provide in kind advertising credits to the tune of $100 million in the fund’s first year, with an additional $400 million becoming available in the second year of operation.

Fund is meant to go toward both acquisitions and Miracle productions; aim is to finance P&A for eight to 10 releases over the first 12 months through media management and ad buying agency Initiative Media Worldwide.

According to the announcement, MFD will acquire worldwide distribution rights on films selected for support.

Headed by prexy-CEO Kent Moors, Asida consults on private portfolio equity and fixed income investments in the Russian, Ukrainian, Moldavian and Kazak markets. Asida has offices in Pittsburgh, Moscow, London and Nassau.

With headquarters in Memphis, GMM owns broadcast and print media as well as TV advertising time and space rights.

With offices throughout North America, IMW was ranked by international research institute Recma last year as the No. 4 media specialist worldwide, with billings of $16.8 billion.

Earlier this year, MFD announced a P&A fund for its own domestic releases in conjunction with Jon Gentile’s Los Angeles-based FilmStar Releasing. That fund was to provide millions in P&A on a revolving basis for three years.

Former Hemdale Film topper John Daly heads MFD. Company released “The Scoundrel’s Wife,” starring Tatum O’Neal and Julian Sands, last month.

More Film

  • Dark Crimes Jim Carrey review

    Film Review: Jim Carrey in 'Dark Crimes'

    Miracle Film Distribution has announced a $500 million partnership with media investment fund Global Media Management and international advisory consortium Asida Group that will finance prints and advertising for new theatrical releases. Under the plan, the fund will provide in kind advertising credits to the tune of $100 million in the fund’s first year, with […]

  • Buster Keaton

    Film News Roundup: City of Los Angeles Names June 16 Buster Keaton Day

    Miracle Film Distribution has announced a $500 million partnership with media investment fund Global Media Management and international advisory consortium Asida Group that will finance prints and advertising for new theatrical releases. Under the plan, the fund will provide in kind advertising credits to the tune of $100 million in the fund’s first year, with […]

  • Michelle Williams This Is Jane

    Michelle Williams to Star in Underground Abortion Movie 'This Is Jane'

    Miracle Film Distribution has announced a $500 million partnership with media investment fund Global Media Management and international advisory consortium Asida Group that will finance prints and advertising for new theatrical releases. Under the plan, the fund will provide in kind advertising credits to the tune of $100 million in the fund’s first year, with […]

  • catastrophe

    Number of Female Writers in British Film and TV at ‘Abjectly Low Levels’

    Miracle Film Distribution has announced a $500 million partnership with media investment fund Global Media Management and international advisory consortium Asida Group that will finance prints and advertising for new theatrical releases. Under the plan, the fund will provide in kind advertising credits to the tune of $100 million in the fund’s first year, with […]

  • Liam Neeson Men in Black

    Liam Neeson in Talks to Join 'Men in Black' Spinoff (EXCLUSIVE)

    Miracle Film Distribution has announced a $500 million partnership with media investment fund Global Media Management and international advisory consortium Asida Group that will finance prints and advertising for new theatrical releases. Under the plan, the fund will provide in kind advertising credits to the tune of $100 million in the fund’s first year, with […]

  • Chad Stahelski Analog

    'John Wick's' Chad Stahelski to Direct Sci-Fi Movie 'Analog' for Lionsgate

    Miracle Film Distribution has announced a $500 million partnership with media investment fund Global Media Management and international advisory consortium Asida Group that will finance prints and advertising for new theatrical releases. Under the plan, the fund will provide in kind advertising credits to the tune of $100 million in the fund’s first year, with […]

  • moviepass card

    MoviePass Parent's Stock Slides Again on Cash Shortage Fears

    Miracle Film Distribution has announced a $500 million partnership with media investment fund Global Media Management and international advisory consortium Asida Group that will finance prints and advertising for new theatrical releases. Under the plan, the fund will provide in kind advertising credits to the tune of $100 million in the fund’s first year, with […]

More From Our Brands

Access exclusive content