Lara to lead Spain funder

Exec tapped chief of ICAA pic org

MADRID — Fernando Lara, the longtime director of the Valladolid Film Festival, will replace Manuel Perez Estremera as director general of the ICAA film institute, which runs Spain’s biggest subsidy fund.

Perez Estremera was just tapped director of TVE, the television arm of Spanish pubcaster RTVE.

Lara took over at Valladolid in 1984, quickly turning it into a launchpad for high-profile artpics gleaned from the world’s top festivals.

Under Perez Estremera, the ICAA has nearly doubled its subsidy fund to E64 million ($86 million) in 2005.

But Lara still faces challenges. Subsidies are awarded on a pro rata basis, according to how much money ICAA has in the bank. Producers say that throws the financing process into chaos.

The film industry also is tub-thumping to get subsidy payments rapidly and for larger film and TV tax breaks. They stand at 5% of investment.

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