“It’s going to be extremely beneficial for both parties,” Block said. “We look forward to making a lot of movies, and a lot of music, with the Cutting Edge team.”
The slate deal will provide QED with immediate capital, rather than guaranteeing funds as part of a film’s bank closing or acquiring the music rights after a film is complete. CEG is advancing funds upfront to QED for the production company to develop its slate of upcoming film projects, secured against QED’s forthcoming film music slate.
QED’s slate includes Jason Bateman’s comedy “Family Fang” and “Rock the Kasbah,” starring Bill Murray with Barry Levinson directing.
The deal was closed at Cannes by CEG’s James Gibb and QED’s Tim Connors. Last Cannes, CEG made a similar deal with Basil Iwanyk’s Thunder Road.
CEG’s model of financing against music licensing has been employed for over 350 titles.