Egyptian firm invests in Insomnia

Borak puts $550 million into production company

LONDON — U.S. shingle Insomnia Media Group has announced a $550 million cash infusion from Egyptian asset management firm Borak Holdings.

The deal will see Insomnia retain majority ownership and use the coin to finance future film-related activities, including production, acquisitions of film libraries as well as talent and management firms.

Founded in 1994 by Bret Saxon and Jeff Bowler, Insomnia claims to be the only independent production company with a permanent studio on the Universal Studios lot.

The shingle has produced skeins for Fox TV Studios and has financed the upcoming feature “The Grand,” starring Woody Harrelson and Ray Romano.

Insomnia and Borak are already teaming up on a $70 million war film to be lensed in Egypt, Morocco and Los Angeles.

Want to read more articles like this one? SUBSCRIBE TO VARIETY TODAY.
Post A Comment 0

Leave a Reply

No Comments

Comments are moderated. They may be edited for clarity and reprinting in whole or in part in Variety publications.

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

More Film News from Variety