Cannes: Cargo Takes Stake in Radiant, Forms Partnership
The companies will work side by side on joint initiatives but continue to operate as two separate entities.
Cargo Entertainment and Radiant Films International are partnering to expand their combined production, finance and sales operations for films.
As the first step in their new partnership, Cargo has made an investment in Radiant that calls for Radiant president and CEO Mimi Steinbauer to assume the additional role of president of distribution at Cargo.
The companies will work side by side on joint initiatives but continue to operate as two separate entities. Radiant Films International has a slate of titles being sold at Cannes including the newly announced romantic comedy Carrie Pilby starring Hailee Steinfeld and Tom Wilkinson.
Steinbauer and the sales team, which includes newly appointed Radiant senior VP John Short, will handle foreign sales for all Cargo titles under the newly formed entity, which aims to jointly finance, produce and launch four to six films per year.
"Mimi is one of the savviest sales executives in the business with a proven track record balancing sales on specialty as well as high-profile commercial films such as The Hurt Locker, Blue Valentine, The Lord of the Rings trilogy and The Matrix," said Cargo CEO and managing partner Marina Grasic. The strength of her experience makes her a perfect partner as we look to substantially increase the scope of our productions. It’s a great partnership, and we look forward to making a number of significant announcements to take us to that next level shortly.”
Added Steinbauer: “Marina and Cargo have built a reputation for producing high-quality theatrical films that resonate with buyers across the globe. As they build on that reputation and expand their production operations with even bigger-budget films, we are delighted to be partnering with Cargo."
Cargo's slate includes the comedy Welcome to Me, starring Kristen Wiig, and the political thriller Zipper, which premiered at the 2015 Sundance Film Festival and stars Patrick Wilson and Dianna Agron. Alchemy is releasing both films. The company's upcoming films include the suspense thriller The Price with Noomi Rapace, currently in preproduction.
Aside from Carrie Pilby, Radiant’s slate includes the thriller Take Down, directed by Jim Gillespie and The Driftless Area, starring Zooey Deschanel and Anton Yelchin, which made its world premiere at the 2015 Tribeca Film Festival. Both films are being shopped to buyers at the Cannes film market. Other titles include IFC Films' Hungry Hearts, starring Adam Driver; Madame Bovary with Mia Wasikowska and Ezra Miller (Alchemy is releasing); and Whatever Makes You Happy, set to star Susan Sarandon.