Indie producer secures $65 million from Union Bank
Indie producer and financier River Road Pictures has secured $65 million in credit from San Francisco-based Union Bank.The film company behind such awards-season contenders as “Brokeback Mountain” and “Into the Wild” plans to use the funds to bolster its production financing and for general corporate purposes. River Road’s Bill Pohlad, who founded the company in 1987, said the move signals that credit markets are beginning to open up for independent film as a whole. “We’re grateful to Union Bank for their support of our mission to make quality films,” he added. River Road is currently in post-production on a trio of anticipated films: Terrence Malick’s epic “The Tree of Life,” starring Brad Pitt and Sean Penn; the coming-of-age music film “The Runaways,” starring Kristen Stewart and Dakota Fanning; and “Fair Game,” based on the true story of exposed CIA agent Valerie Plame, starring Naomi Watts and Penn.