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Finance vet launches Film Closings

Jeff Steele behind specialty company

Film-financing vet Jeff Steele has launched Film Closings as a specialty company for packaging and closing film-financing deals.

Steele, who announced the launch Thursday, has been chief financial officer at Magnet Media and was director of film finance for Screen Capital Intl. He’ll be CEO of the new company, based in Los Angeles and Chicago.

Film Closings is aiming to serve as a one-stop shop for equity, gap, pre-sale, tax credit and bridge funding for agencies, management firms, foreign sales companies and indie producers.

Company’s also offering to create finance plans for clients, source financing for packaged projects and steer filmmakers through the vigorous film closing process.

“Financial closings can take anywhere from six to 12 weeks to complete and consume a considerable amount of time and energy,” Steele said.

Film Closings is currently consulting for production-sales outfit Inferno Entertainment. Steele is also publisher of the film finance blog FilmClosings.com.

While at Magnet, he oversaw and closed deals for projects including “Dark Tide,” starring Halle Berry and Olivier Martinez. At Screen Capital, he worked on gap, pre-sale, tax credit, and bridge funding for over 35 films, including Oliver Stone’s “W.” and Anchor Bay’s “Beyond a Reasonable Doubt.”

Steele was also a partner at Plinyminor, which produced “Who Killed the Electric Car?” for Sony Classics and “Mammoth” for NBC Universal’s Syfy cabler.

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