Slate pumped with $500 mil
Dune Entertainment is extending its co-financing partnership with Fox Filmed Entertainment for a third time, committing to invest more than $500 million in a slate of pics over the next three years.Fox and Dune did not specify how many film projects the coin would cover, or which titles. The first round of slate financing was announced in January 2006, with Dune saying it would invest some $325 million spread across 28 Fox releases. Second round was announced last November, with Dune agreeing to invest an additional $325 million in 16 pics. Slate financing arrangement with Dune is designed to provide Fox with increased financial flexibility and protection for the studio’s production and release slate. Fox retains all of its distribution rights worldwide to the movies in which Dune will invest. Societe Generale Corporate & Investment Banking and Dresdner Kleinwort, the investment banking arm of Dresdner Bank, provided the debt financing to Dune. Dune, focusing on entertainment content, is an affiliate of Dune Capital, a broad-based, multimillion-dollar hedge fund.
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