Pair have raised $100 million for project
Intermedia and Media 3 Films have raised $100 million to develop and co-produce up to 10 multicultural genre films with international appeal over the next three years.
New venture will produce pics in the $5 million-$15 million range. Intermedia and Media 3 will serve as co-producers on all of the films; Intermedia will handle worldwide distribution.
The companies plan to complete their first release under the partnership by next spring. Media 3 principals have been involved in such pics as “Stomp the Yard” and “Madea’s Family Reunion.”
“With this deal we have an additional opportunity to build upon our current slate of movies that address audiences who are traditionally underserved by the major studios,” said Intermedia CEO Martin Schuermann.
Munich-based Intermedia’s recent projects include “Breach,” “Spring Break in Bosnia” and “One Missed Call.” Media 3 is an independent production company formed last year by actors Brian J. White (“Stomp the Yard”) and Boris Kodjoe (“Madea’s Family Reunion”), director Sylvain White (“Stomp the Yard”) and finance exec Darius Kirksey.
The $100 million in investment capital was arranged by Kirksey through UBS.