×
You will be redirected back to your article in seconds

Cannes: KKR and Atwater to Launch Library Pictures, Boost Local-Language Film

Local-language film making is to get a fillip through the launch of Library Pictures International. The company is backed by a consortium of investors led by media investment firm Atwater Capital and a newly formed Germany-based media company established by KKR.

The new firm is intended as a content-financing entity to support industry-leading filmmakers and distributors across the globe by investing in local production slates. It has signed multi-year slate-financing deals with prominent international production and distribution entities, including RSVP, the production company headed by former Disney India chief Ronnie Screwvala. Others include Sun Distribution (Latin America and Spain), which just bought Latin American and Iberian rights to Roland Emmerich’s “Moonfall,” being shopped at Cannes.

CAA’s media finance and global client strategy groups put together the financing entity and negotiated the slate deals with the initial partners. Evolution Media Capital served as sole financial advisor. David Taghioff, who previously served as co-head of CAA’s Global Client Strategy group, will lead and operate Library from its Los Angeles headquarters.

Locally produced films represent 40% to 90% of total box office grosses in markets experiencing strong growth, including India, Latin America and Spain. The company will expand strategically into other growth markets where vernacular content constitutes impressive market share.

KKR is establishing a leading independent audiovisual content platform that covers all parts of the value chain in the TV and film industry. With the acquisitions of TMG, Universum, I&U and W&B Film, KKR has completed the first stage of the company development together with Fred Kogel, who leads the new company as CEO. Atwater is focused exclusively on the media and entertainment sectors, and is based in Los Angeles and Seoul.

More Film

  • Ewen Bremner as Alan McGee in

    Danny Boyle-Produced ‘Creation Stories’ Adds Jason Isaacs, Steven Berkoff

    Jason Isaacs, Steven Berkoff and a host of other new names have signed on for “Creation Stories,” the film being exec-produced by Danny Boyle about Creation Records co-founder Alan McGee. The producers also unveiled the first shots of Ewen Bremner (“Trainspotting”) as the music mogul. Production is underway on the Irvine Welsh-penned project, with “Lock, [...]

  • 'Annabelle Comes Home' Review: This Grab

    Film Review: 'Annabelle Comes Home'

    In a country that should probably think about renaming itself the American Entertainment State, fan culture now produces an obsessive level of pop scholasticism, one that can parse the rules and details of movies and TV shows as if they were fine points of law. In a review of a horror movie, I once called [...]

  • Gugu Mbatha-Raw A Wrinkle in Time

    Racing Green Pictures to Launch With Gugu Mbatha-Raw Historical Drama 'Seacole' (EXCLUSIVE)

    Producer Billy Peterson has formed a new production company, Racing Green Pictures, and announced production on “Seacole,” his first feature with the banner. The film will star Gugu Mbatha-Raw (“Belle”) and Sam Worthington (“Avatar”). It centers on a Mary Seacole, a pioneering Jamaican nurse who cared for wounded British soldiers during the Crimean War and [...]

  • The Other Story

    Film Review: 'The Other Story'

    Family disputes and conspiracies take center stage in “The Other Story,” veteran helmer Avi Nesher’s lively drama exploring a hot button issue: the divide between Israel’s secular Jews and the ultra-Orthodox. The fluid narrative plays out against the backdrop of a Jerusalem riven by multiple conflicts as two dysfunctional families separately arrive at an understanding [...]

  • George Clooney

    George Clooney to Direct, Star in 'Good Morning, Midnight' Adaptation for Netflix

    George Clooney has signed on to direct and star in a feature film adaptation of Lily Brooks-Dalton’s novel “Good Morning, Midnight” for Netflix. Mark L. Smith will adapt the screenplay from the sci-fi thriller, which was named one of the best books of 2017 by the Chicago Review of Books. The post-apocalyptic tale follows the [...]

More From Our Brands

Access exclusive content