Layoffs have hit sales-production-finance company Exclusive Media with half a dozen pink slips issued, a PR rep for Exclusive confirmed Friday.
The redundancies came two weeks after news emerged during the European Film Market that Dasym Investment Strategies — Exclusive Media’s majority owner — had decided to restructure the company. That move was interpreted as a prelude to Exclusive Media toppers Nigel Sinclair and Guy East departing although the duo remain in place.
“Collaborative and fruitful discussions between Exclusive Media’s management and Dasym Investment Strategies are ongoing,” a statement said. “Dasym will continue its support for the company. Together we have taken steps to right size our operations. We anticipate making a formal announcement regarding the go forward plan for the company within the next few weeks.”
Variety reported on Feb. 7 that reasons for the rupture appear connected to a dispute that flared up between East and Sinclair and Frank Botman, chairman and founder of Dutch funds group Dasym (formerly Cyrte). Botman was understood to have been unhappy with losses sustained in North America by the Formula One motor racing film “Rush,” directed by Ron Howard.
“Rush,” starring Chris Hemsworth and Daniel Bruhl, grossed $27 million in the U.S. and $90 million worldwide.
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Sinclair and East are minority owners of Exclusive Media.
Exclusive and Dasym are investors in English-language Chinese project “Skiptrace,” an action adventure pic starring Jackie Chan, Seann William Scott and Fan Bingbing. Exclusive’s Berlin slate included Whitey Bulger picture “Black Mass”; “Dark Places,” starring Charlize Theron and Nicholas Hoult; Keanu Reeves-Rachel McAdams sci-fi pic “Passengers”; and “The Woman In Black: Angel of Death.”