Salt Co. mines Alcove pact


LONDON -- U.K.-based sales and finance company the Salt Co. has inked a reciprocal first-look agreement with based production and finance banner Alcove Entertainment, based in London, Los Angeles and Dubai.

Salt will be given a first look at Alcove productions for worldwide sales and in return will bring film projects to Alcove for financing.

Alcove is finalizing the terms of its new film fund, which over a three-year period aims to provide up to 50% of the financing for a minimum of five films, each with budgets of as much as $10 million.