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Ex-PayPal executive and financier Jack Selby has created Incognito Pictures, a new production company geared to making movies under $10 million, and secured a distribution deal with the Weinstein Co.
Incognito has a $50 million fund that it hopes will let it create an initial slate of five or six films that will span genres, making the company “genre-agnostic,” as it calls itself. (Most movies made under $10 million tend to be horror movies, but the company doesn’t want to be pigeon-holed in that arena.)
Selby will serve as chairman of the company while Scott Stone, who was an exec producer on such films as Narc and Kickin it Old Skool, is on board as CEO.
“What makes Incognito unique is that we have secured significant permanent capital which historically has been applied to films at higher price points. Instead, we have a unique opportunity to fill an underserved market of more modestly budgeted films with specialized content that appeals to audiences, both domestically and abroad,” the company said in an announcement.
Selby is the latest ex-PayPal exec and Internet entrepreneur to enter Hollywood to make movies. David O. Sacks, PayPayl’s COO until the company was acquired by eBay, created Room 9 Entertainment and was instrumental in making Jason Reitman’s Thank You for Smoking. Jeff Skoll, eBay’s first president, paved the way for the Internet-to-Hollywood transition when he set up Participant Pictures.
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