Cannes: Stuart Ford's AGC Studios Signs $150M Financing Pact With Ingenious Media

Greg Shapiro and Stuart Ford - Split - Getty - H 2018
Left, Greg Shapiro, right, Stuart Ford, both Getty Images

The British company will provide half of the equity for each film AGC produces and finances in-house.

Stuart Ford's new production and sales group, AGC Studios, has signed a $150 million co-financing deal with Britain-based private equity group Ingenious Media to bankroll AGC's production slate.

The agreement, unveiled in Cannes on Wednesday, will see Ingenious provide half of the equity investment required for each film produced and financed by AGC in-house, as well as additional debt financing as required.

Ingenious worked with Ford on several projects he produced through his previous company, IM Global, including the spy thriller The Rhythm Section, with Blake Lively and Jude Law, and the noir thriller Serenity, starring Matthew McConaughey and Anne Hathaway.

Founded by Patrick McKenna in 1998, Ingenious is an established film financier, having provided funding for features such as Avatar, Life of Pi and The Best Exotic Marigold Hotel. The co-financing deal was brokered by AGC COO Miguel Palos and Ingenious head of film Peter Touche.

Ford has told The Hollywood Reporter he intends to build up AGC to be a mini-major along the lines of Entertainment One or StudioCanal. He expects to announce his initial slate in the coming months. Oscar-winning producer Greg Shapiro (The Hurt Locker) joined AGC earlier this year to run the company's originals operation as head of production.

At Cannes, AGC is hawking two sales pickups: Missing Link, a new animated feature from ParaNorman producers Megan Ellison's Annapurna Pictures and Laika, which features the voice talents of Hugh Jackman, Zoe Saldana and Zach Galifianakis, and Midway, a big-budget WWII film from Independence Day director Roland Emmerich.