Producer Joel Silver Says He's Found New Financier for Silver Pictures
Producer Joel Silver is partnering with Canadian billionaire Daryl Katz.
Producer Joel Silver has found financing for his Silver Pictures Entertainment from Canadian billionaire Daryl Katz, it was announced on Monday.
The duo will run the film venture together. Additionally, indie finance veteran Hal Sadoff has been named CEO of Silver Pictures.
“Daryl Katz is an entrepreneur in the truest sense of the word. I’ve watched him build brands, sports teams and multibillion-dollar businesses with vision and drive, and that’s someone I want by my side,” Silver said in a statement. “Daryl’s expressed interest is to enhance his sport and entertainment division with significant entertainment properties and it’s really exciting for me to be with him on that journey.”
Added Katz: “Joel Silver has an incredible track record and relationships across the entertainment industry. For almost four decades he’s been creating film franchises, breaking box office records and entertaining moviegoers. We are very excited to be partnering with Joel, Hal and their team to capitalize on the opportunity to build a great business by making great entertainment. Silver Pictures is an important part of the vision and breadth of our growing sports & entertainment business.”
Katz is the founder and chairman of the Katz Group, one of Canada's largest privately owned companies, with a sizeable foothold in the pharmaceutical, sports, entertainment and real estate sectors. The sports and entertainment arm, Oilers Entertainment Group, owns the Edmonton Oilers and is currently in construction on Rogers Place, a $2.5 billion mixed-use sports complex in Edmonton.
As part of the deal, Silver Pictures will take an active role in helping to enhance and expand OEG's entertainment platform.
Katz' net worth is a reported $2.6 billion, making him Canada's eleventh-richest person.
Silver Pictures is currently in post-production on Warner Bros.’ The Nice Guys, directed by Shane Black and starring Russell Crowe and Ryan Gosling, and in pre-production on The Outsider, directed by Tom Green and Jeremy Renner.
Sadoff and Silver have a longtime relationship, having worked together on House on Haunted Hill, Thirteen Ghosts and Gothika. Additionally, Sadoff helped structure the financing for Nice Guys.
Current Silver Pictures executives Ethan Erwin, Aaron Auch and Sarah Meyer will continue to oversee production and development.