Block banner eyes four to seven pics per year, other expansion
Media Content Capital has taken a substantial stake in QED International, setting the stage for expansion of Bill Block’s 6-year-old production, finance and international sales company.
The mid-eight-figure investment, announced Wednesday at Cannes, will be used to grow QED’s development, production sales and financing operations and enable QED to build out its infrastructure. It plans to produce and/or finance four to seven features annually, expand operations to handle additional third-party titles for sales and distribution and provide minimum guarantees when acquiring international rights for third-party completed feature films.
“With the capital, QED will be able to further assist filmmakers and companies in financing their projects,” the company said. “QED will continue its strategy of committing capital and resources to top filmmakers to enable them to produce commercial films that are competitive in the global market.”
QED is currently financing and producing the Arnold Schwarzenegger action thriller “Ten, which Open Road recently acquired for U.S. release; Neil Blomkamp’s “Elysium,” starring Matt Damon and Jodie Foster, for Columbia; and crime thriller “Alex Cross,” starring Tyler Perry, for a Lionsgate release in October.
“I am excited to be in business with Media Content Capital,” Block said in a statement. “Its investment in QED gives us the balance sheet to support filmmakers in getting their movies made and allows us to expand our business and platform to better serve our clients and the creative community.”
Media Content Capital’s Sasha Shapiro said, “We believe content is increasing in value around the world. QED’s risk-mitigation approach to financing new films is appealing to us.”
QED’s most successful film was “District 9.” Other titles have included Oliver Stone’s “W,” “The Hunting Party,” “Texas Killing Fields,” “A Perfect Getaway” and Smart People.”
Joshua Grode and Zach Smith of Liner Grode Stein LLP represented Media Content Capital in the transaction and Chris Corrabi represented QED.