RCR Media Renews Slate Financing Deal With Sony Worldwide
Extended through 2012, the agreement primarily covers direct-to-DVD titles and some theatrical releases, including the upcoming Cuba Gooding Jr. movie "The Hit List."
Beverly Hills-based private equity firm RCR Media Group -- backed by Angolan entrepreneur Rui Costa Reis -- has renewed its slate financing deal with Sony Pictures Worldwide Acquisitions through 2012.
The deal primarily covers direct-to-DVD titles. RCR Media also will partner on acquisitions, including upcoming Cuba Gooding Jr. movie The Hit List.
RCR Media, led by Reis and Eliad Josephson, first got into business with Sony Worldwide in 2009. Titles the firm has co-financed include 30 Days of Night: Dark Days and Stomp the Yard: Homecoming, both direct-to-DVD sequels.
The 2011 slate includes S.W.A.T.: Firefight, Hostel III and Quarantine 2: Terminal, in addition to Hit List.
Josephson and Reis take an en executive producing credit on all projects.
"We are looking to partner with like-minded studios on the worldwide release of high-quality, commercial films. With long-term business plans in place and a diversified film slate, we are positioned to become a brand name in film financing," Costa Reis said.
Reis has had a number of businesses in Angola, including real estate, flower mills and transportation. He splits his time between Angola, Portugal, Monaco and the U.S.
Josephson, a veteran financier, said "after finding an ideal partner in Sony, it was only natural to extend our relationship."
RCR Media said it plans to announce additional studio deals in the coming months.