Fox Extends Film Finance Partnership with Hedge Fund Dune Capital
New deal will run for at least a couple of years, with Wall Street firm to cover 35 percent of production costs.
NEW YORK - News Corp.'s Fox Filmed Entertainment has extended its long-standing co-financing agreement with hedge fund Dune Capital Management, according to the New York Post.
The new arrangement, which follows a deal that was set to expire over the summer, will extend the Fox-Dune relationship for at least another couple of years, with the financial firm set to finance about 35 percent of the production costs of all Fox films, according to the Post. The paper didn't detail the total amount of dollars Dune will invest.
The two have been partners in multi-picture funding deals since 2005, with films covered including the likes of Avatar, Live Free or Die Hard and The Devil Wears Prada. While other Wall Street-Hollywood collaborations have led to mixed results, this partnership is considered successful.