Filmax lines up film credit

Co. has yet to unveil '08 production slate

Spanish mini-major Filmax Entertainment has pulled down a e12 million ($18.2 million) credit line from Spain’s state-backed ICO finance agency to help bankroll its 2008 production slate and consolidate its status as a “Euro-Latino” studio.

In Argentina, Filmax co-owns Pablo Bossi’s shingle Pampa Films, which launched December 2006. It also has a co-production partnership in Mexico with Lemon Films.

Filmax has yet to unveil its full 2008 production slate.

Already-announced projects include “Lucky Lady 13,” an internationally targeted chiller from Jaume Balaguero (“Darkness,” “Fragile”), and toon “The Hairy Tooth Fairy 2,” with Argentina’s Patagonik, to be delivered late 2008.

The credit facility is the latest move from Filmax to ramp up cash flow after film distribution losses. Since then, Filmax has moved away from distribution to focus on pic production. Filmax put through a $27 million capital increase in September.

(Emiliano de Pablos contributed to this report.)

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