Duo have overseen over $500 mil in financing
A pair of independent film financiers — 120dB Films and Tax Credit Finance — have merged their operations.
The new entity, 120dB Films Tax Finance, was announced this week by managing members Stephen Hays, Peter Graham and Anthony Gudas. The two companies have overseen more than $500 million in financing.
The principals said the move comes as traditional film lenders pull back from the market in light of the credit crisis. The new company forecasted that it will place and fund credits on combined production budgets in excess of $300 million next year.
Hays and Graham founded 120dB Films in 2004, providing gap, pre-sale, tax credit, finishing funds, prints and advertising and bridge financing for more than 40 films and TV series with total production costs topping $200 million.
Gudas previously managed Tax Credit Finance, which has overseen more than $300 million in project financing since its formation in 2002.
TCF and 120dB Films have worked together on the second season of the TNT television series “Leverage,” the Iowa-based thriller “Experiment,” Robert Rodriguez’s new Texas-based feature “Machete” and Michigan-based “Little Murder.”
In a statement, 120dB Films Tax Finance said it expects to incorporate in Iowa and register in several other states where there is “significant tax credit demand.”