Move follows funding boost
LONDON — The Works UK Distribution has acquired all U.K. rights to “Me Shee: The Water Giant,” a $27 million family film directed by John Henderson.
The deal comes after the Works Media Group received a £500,000 ($1 million) injection of fresh capital from Milcoz Films, a production and financing company owned by Costa Theo.
Theo has bought a 13.65% stake in the Works, and has become a non-exec director of the publicly-listed group. The proceeds from his investment will be used to further develop the U.K. distribution and international sales operations.
In buying “Me Shee” from ContentFilm, the Works is signaling an increasingly aggressive approach to acquisitions, following its purchase of two movies at Cannes last month, Steve Buscemi’s “Interview” and the Australian thriller “Black Water.”
The 34-year-old Theo founded Milcoz in 2002, and has since developed, produced and financed two small pics, Robert Heath’s “Out on a Limb” and James Keach’s “Blind Dating.”
Milcoz is part of Theo’s Theta Group, whose wide-ranging interests include construction management in the MidEast, wind farms and property.