CANNES — Myriad Pictures has secured a new, two-year $100 million revolving credit facility from Imperial Entertainment Group, a Comerica company, for the production of features.
Deal with Imperial will allow Myriad to continue to finance its production slate independently and marks a major boost to the indie’s film production financing capabilities. Myriad had previously financed its pics through coin provided by its majority owner, German company IN-motion, whose film and TV division is overseen by Myriad co-prexys Philip von Alvensleben and Kirk D’Amico, and by international pre-sales on its film slate.
“We are extremely pleased to have the financial support of Imperial Entertainment Group in expanding our production slate,” said D’Amico, who brokered the deal with Myriad chief financial officer Jon Shiffman, IEG president Morgan Rector, senior VP Jared Underwood and assistant VP Jaime Rigal. “Imperial’s experience and commitment to the independent film sector compliments our business plan for the future.”
Myriad Pictures’ upcoming slate includes the Dan Algrant-directed “People I Know,” starring Al Pacino, Kim Basinger and Tea Leoni and exec produced by Robert Redford, which Miramax Films will release in the U.S.; the dark comedy “The Good Girl,” directed by Miguel Arteta and starring Jennifer Aniston, Jake Gyllenhaal and John C. Reilly; “Van Wilder: Party Liaison,” in post-production; and two recent acquisitions that are screening in the market at Cannes, “Double Whammy” and “Good Advice.”