Goldcrest Films bows New York prod'n arm

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Goldcrest Films International is launching a New York-based production arm, Goldcrest Features.

The division will aim to co-produce up to seven features a year in the state budgeted at $5 million-$15 million, providing indie filmmaking partners with pre- and postproduction services from its Goldcrest Post New York facility.

Privately held GFI's Goldcrest Film Finance arm, which will support the venture, has given capital to several studio projects during the past three years. The new venture will access debt, equity, presales and tax credits from GFF (which is supported by GFI's library of 80-plus films, including "Gandhi" and "A Room With a View") and the international sales division, Goldcrest Independent.

Goldcrest executive director Nick Quested will oversee the new venture and provide filmmakers with a staff of consulting producers, including HDNet Films veteran Gretchen McGowan. Quested said his company's post facility has taught them how to help filmmakers make the most of New York tax credits.

Goldcrest Features' first project is the completion of "The City of Your Final Destination" for Merchant Ivory Prods. (partialdiff)
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