CANNES — Spyglass Entertainment has inked a new equity partner, Portugal’s media conglomerate Lusomundo.
The deal includes a five-year pact to distribute Spyglass product throughout Portugal. But it also brings Lusomundo aboard with an equity share of Spyglass alongside Taurus, Mediaset, Svensk Filmindustri, Toho Towa and Disney as full-fledged partners.
Spyglass partners Roger Birnbaum and Gary Barber said the contribution “is significant” for the Portuguese company and noted that their investment payment is on a par with other companies.
“We are extremely proud to have Luis Silva’s Lusomundo as a partner in our business and we’re thrilled to have their distribution expertise handling our product,” said Barber and Birnbaum in a joint statement.
Silva added, “We are very happy to be associated with Spyglass. Gary and Roger are not only good friends, but they’re highly respected professionals with impressive track records in our business.”
Lusomundo is one of the major communications organizations in Portugal, with assets in media and entertainment. The group is also one of the reference shareholders in Banco Comercial Portugues, the largest private financial institution in the country.
Spyglass has a number of upcoming pics, including “Instinct,” starring Anthony Hopkins and Cuba Gooding Jr.; “The Sixth Sense,” with Bruce Willis under M. Night Shyamalan’s direction; “Shanghai Noon,” an action comedy starring Jackie Chan and Owen Wilson; and “Keeping the Faith,” which stars Ben Stiller, Edward Norton and Jenna Elfman.