Companies launch Visible Films
LONDON — Leading U.K. indie production companies Recorded Picture Co., Ecosse Films and Samuelson Prods. have teamed to launch Visible Films, an investment vehicle that will use both existing tax breaks and the new Film Tax Relief credit system, launched Jan. 1.Aim is to raise up to $46.9 million (£24 million) across the three companies to finance film production. The minimum investment is $19,500, and the target for each company is $15.6 million. Visible Film investors are asked to part with the coin on the strength of the three companies’ track records. Recorded Picture Co., Ecosse Films and Samuelson Prods.’ combined credits include “The Last Emperor,” “Mrs. Brown,” “Sexy Beast,” “Stormbreaker” and “Wilde.” The three production companies have garnered nominations for 14 Oscars, 11 Golden Globes and 26 BAFTAs as well as some wins. “British films are now not only winning major awards in Hollywood and London but are also huge box office successes,” said Ecosse producer Robert Bernstein. “The Visible Films companies offer the opportunity to invest in producers who have made films such as ‘Mrs. Brown,’ ‘The Last Emperor’ or ‘Wilde,'” he added. “One of the attractions of this plan is that investors can be involved in a varied group of films with high aspirations and with risk mitigation from the tax relief available,” said the Recorded Picture Co.’s Jeremy Thomas.