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.