Mark Damon’s DCR Finance Corp. has signed a deal to provide $65 million in financing for a new version of “Sinbad” with production set to begin in early 2020, Variety has learned exclusively.
DCR, a media financing fund headed by Damon, Adi Cohen and Jordi Rediu, will unveil details to potential buyers at the American Film Market, which opens Nov. 6 in Santa Monica, Calif.
The funds will be mostly spent in Georgia through partners Len Gibson and Wayne Overstreet, of Go Media. The overall budget is expected to be around $120 million. Enrico Ballarin, whose credits include “Star Wars: Episode II” as a unit manager, will executive produce. “Sinbad” will be directed by Francesco Lucente, who also wrote the screenplay.
DCR announced a deal in August with Atlanta-based Go Media Productions to join a private placement as a lead investor and provide up to $150 million in exchange for the investment being channeled back into the Georgia film industry.
The Sinbad story originated in the Middle East and chronicled the travels of a fictional sailor who made seven voyages encountering magical and supernatural beings. One of the more notable adaptations was 1947’s “Sinbad the Sailor,” starring Douglas Fairbanks Jr. in pursuit of the lost treasure of Alexander the Great.