Chinese studio Bona Film Group has struck a deal with U.S. financier Tsg Entertainment Finance to invest in a slate of upcoming Hollywood franchise movies. The deal is understood to include upcoming “Avatar” and “Deadpool” titles.
The agreement, signed on Dec. 31, is described as an extension and expansion of a relationship between Bona and Tsg that began in 2015. The financial terms were not disclosed.
Through the earlier deal Bona committed to providing $235 million to co-invest with Tsg in a slate of films including “The Martian,” “Independence Day: Resurgence,” “The Greatest Showman,” “War for the Planet of the Apes,” “Miss Peregrine’s Home for Peculiar Children,” “Alien: Covenant” and “X-Men: Apocalypse,” most of which were distributed through 20th Century Fox.
Such co-investment slate financing deals tend to provide studios with a degree of risk management. The financiers are mostly passive investors who have little or no say in the film’s creative process,...
The agreement, signed on Dec. 31, is described as an extension and expansion of a relationship between Bona and Tsg that began in 2015. The financial terms were not disclosed.
Through the earlier deal Bona committed to providing $235 million to co-invest with Tsg in a slate of films including “The Martian,” “Independence Day: Resurgence,” “The Greatest Showman,” “War for the Planet of the Apes,” “Miss Peregrine’s Home for Peculiar Children,” “Alien: Covenant” and “X-Men: Apocalypse,” most of which were distributed through 20th Century Fox.
Such co-investment slate financing deals tend to provide studios with a degree of risk management. The financiers are mostly passive investors who have little or no say in the film’s creative process,...
- 1/3/2024
- by Patrick Frater
- Variety Film + TV
Disney, 20th Century Studios Accused of Cheating Film Financier Tsg Entertainment Out of $40 Million
Tsg Entertainment Finance, a key 20th Century Fox partner after the exit of Dune Entertainment, is accusing the studio and its new owner Disney of a “Hollywood accounting” swindle that cheated the film financier out of possibly hundreds of millions of dollars, according to a lawsuit filed Tuesday in Los Angeles Superior Court.
The lawsuit cites an independent audit of three films it financed, including Oscar winner “The Shape of Water,” which found $40 million in unrealized revenues. More audits across all Tsg investments over the past decade could reveal hundreds of millions in underpayments, according to the lawsuit acquired by TheWrap.
Fox, now known as 20th Century Studios, and Disney did not immediately respond to a request for comment Tuesday.
When Dune concluded its financing deal with Fox in 2012, founding co-partner Chip Seelig established Tsg, which has funded more than 100 mostly live-action Fox films including worldwide hits “Planet of the Apes,...
The lawsuit cites an independent audit of three films it financed, including Oscar winner “The Shape of Water,” which found $40 million in unrealized revenues. More audits across all Tsg investments over the past decade could reveal hundreds of millions in underpayments, according to the lawsuit acquired by TheWrap.
Fox, now known as 20th Century Studios, and Disney did not immediately respond to a request for comment Tuesday.
When Dune concluded its financing deal with Fox in 2012, founding co-partner Chip Seelig established Tsg, which has funded more than 100 mostly live-action Fox films including worldwide hits “Planet of the Apes,...
- 8/15/2023
- by Josh Dickey
- The Wrap
The pre-title credits proclaiming Bona Film Group’s Yu Dong and Jeffrey Chan as executive producers of Quentin Tarantino’s “One Upon a Time … in Hollywood” leave no doubt that the Chinese company is a significant piece of the ongoing — and sometimes uneasy — relationship between the U.S. and Chinese film industries.
More than that, Bona principal Yu Dong likes to boast that his is the only Chinese company to have gone to Hollywood and not lost money.
From 2012 to 2016, Chinese giants such as Wanda, Alibaba and Tencent — among a few others — were expected to swoop in and buy up Hollywood studios or production companies. Bona was never on that list — its strategy has been more opportunistic, though no less daring.
Arguably Bona’s biggest Hollywood moment was its 2015 slate financing deal with Chip Seelig’s Tsg to bankroll a selection of 20th Century Fox movies. Involving a $235 million minimum investment,...
More than that, Bona principal Yu Dong likes to boast that his is the only Chinese company to have gone to Hollywood and not lost money.
From 2012 to 2016, Chinese giants such as Wanda, Alibaba and Tencent — among a few others — were expected to swoop in and buy up Hollywood studios or production companies. Bona was never on that list — its strategy has been more opportunistic, though no less daring.
Arguably Bona’s biggest Hollywood moment was its 2015 slate financing deal with Chip Seelig’s Tsg to bankroll a selection of 20th Century Fox movies. Involving a $235 million minimum investment,...
- 6/7/2019
- by Patrick Frater
- Variety Film + TV
China’s Bona Film Group is co-financing Brad Pitt space adventure “Ad Astra,” one of several films in a strong slate of international movies the company plans to release in the Middle Kingdom over the next year.
Bona has also acquired Roland Emmerich’s war spectacular “Midway” and is investing in “A Dog’s Way Home,” the sequel to “A Dog’s Purpose.”
Sourced from New Regency, James Gray’s “Ad Astra” stars Pitt as an astronaut who travels to the edge of the universe to be reunited with his father, played by Tommy Lee Jones.
New Regency previously produced Leonardo DiCaprio-starring “The Revenant,” which it partially financed by selling off the China rights. This time, Bona is co-financing “Ad Astra” and holding on to the rights in Greater China, meaning mainland China, Taiwan, Hong Kong and Macau.
“A Dog’s Way Home” follows “A Dog’s Purpose,” whose...
Bona has also acquired Roland Emmerich’s war spectacular “Midway” and is investing in “A Dog’s Way Home,” the sequel to “A Dog’s Purpose.”
Sourced from New Regency, James Gray’s “Ad Astra” stars Pitt as an astronaut who travels to the edge of the universe to be reunited with his father, played by Tommy Lee Jones.
New Regency previously produced Leonardo DiCaprio-starring “The Revenant,” which it partially financed by selling off the China rights. This time, Bona is co-financing “Ad Astra” and holding on to the rights in Greater China, meaning mainland China, Taiwan, Hong Kong and Macau.
“A Dog’s Way Home” follows “A Dog’s Purpose,” whose...
- 12/13/2018
- by Patrick Frater
- Variety Film + TV
Bona Film Group has finalised its delisting from the Nasdaq and subsequent privatisation process, following which Alibaba Pictures has an 8.94% stake in the Beijing-based studio.
Alibaba said in a statement that it has invested $86m into Bona and plans to develop a strong working relationship with the studio “on content production and distribution in a bid to enhance each other’s edge along the value chain of the entertainment industry”.
Alibaba Pictures CEO Zhang Qiang added: “Participation in the privatisation of Bona helps boost the development of the Chinese film and television industry. Sharing the same mission and vision with Bona, Alibaba Pictures wishes to create an ecosystem and platform covering the whole value chain of the film and TV industry.”
Bona founder and chairman Yu Dong, along with investors Sequoia Capital and Fosun International, submitted a privatisation offer to delist from the Nasdaq last June, based on an offer price of $13.70 in cash per American depositary...
Alibaba said in a statement that it has invested $86m into Bona and plans to develop a strong working relationship with the studio “on content production and distribution in a bid to enhance each other’s edge along the value chain of the entertainment industry”.
Alibaba Pictures CEO Zhang Qiang added: “Participation in the privatisation of Bona helps boost the development of the Chinese film and television industry. Sharing the same mission and vision with Bona, Alibaba Pictures wishes to create an ecosystem and platform covering the whole value chain of the film and TV industry.”
Bona founder and chairman Yu Dong, along with investors Sequoia Capital and Fosun International, submitted a privatisation offer to delist from the Nasdaq last June, based on an offer price of $13.70 in cash per American depositary...
- 4/11/2016
- by lizshackleton@gmail.com (Liz Shackleton)
- ScreenDaily
Financier Tsg works with Fox on live action films such as The Martian.
China’s Bona Film Group has made a $235 million investment in Tsg Entertainment Finance, a financier that works with Fox.
Tsg has worked on Fox live action films such as Dawn of the Planet of the Apes, X-Men Days of Future Past, and The Martian.
The Investment is structured primarily with the Bona Film Fund and a credit facility arranged by East West Bank, and entitles Bona to participate in the on-going slate financing arrangement that Tsg has with Twentieth Century Fox, which will continue to distribute the films worldwide.
“Our international strategy has played an important role in our overall business plan and this partnership with Tsg Entertainment underscores Bona’s growing impact and brand awareness in the international film industry,” said Bona founder, chairman and CEO Yu Dong [pictured]. “We look forward to participating in more mainstream Hollywood productions and bringing high-quality foreign...
China’s Bona Film Group has made a $235 million investment in Tsg Entertainment Finance, a financier that works with Fox.
Tsg has worked on Fox live action films such as Dawn of the Planet of the Apes, X-Men Days of Future Past, and The Martian.
The Investment is structured primarily with the Bona Film Fund and a credit facility arranged by East West Bank, and entitles Bona to participate in the on-going slate financing arrangement that Tsg has with Twentieth Century Fox, which will continue to distribute the films worldwide.
“Our international strategy has played an important role in our overall business plan and this partnership with Tsg Entertainment underscores Bona’s growing impact and brand awareness in the international film industry,” said Bona founder, chairman and CEO Yu Dong [pictured]. “We look forward to participating in more mainstream Hollywood productions and bringing high-quality foreign...
- 11/6/2015
- by wendy.mitchell@screendaily.com (Wendy Mitchell)
- ScreenDaily
Join Encompass for this spectacular one night only benefit event in a unique Tribeca penthouse with a grand outdoor terrace featuring panoramic NYC views, to take place at 66 Leonard Street, New York, NY 10013 between Church Street amp Broadway in the penthouse of Mr. Chip Seelig. In addition to an evening of great entertainment, guests can also expect savory hors d'oeuvres and enjoy wines from Mr. Seelig's private collection.
- 6/4/2015
- by BWW News Desk
- BroadwayWorld.com
20th Century Fox has sealed a $400 million financing deal that will help fund its film slate over the next five years, a source with knowledge of the pact told TheWrap Tuesday. Chicago-based Magnetar Capital provided the majority of the money, part of which will go to finance the next two "Avatar" movies. Also read: 'Life of Pi': Profitability Is as Stunning as Its Oscar Splash Financier Chip Seelig helped broker the deal, which replaces an arrangement with Dune Capital Management, for whom Seelig was a partner when the company cut a similar...
- 1/29/2013
- by Todd Cunningham
- The Wrap
Really, James Cameron could probably single-handedly rustle up the money to pay for the next two Avatar movies. It might require selling a submarine or autographing 100 Titanic posters, but come on, he could do it. But Cameron, like everyone else in Hollywood, relies on other peoples' money to get his movies made, and now 20th Century Fox has secured the cash needed to make the Avatar sequels, and plenty of other things in the next five years. According to Variety, the studio has secured a little more than $400 million to fund everything it plans to produce in the next half-decade, which includes Avatar 2 and Avatar 3. The money was arranged by Chip Seelig, who brought another $400 million to the studio back in 2005, when he was part of Dune Management. The details of the deal and complex, and probably not relevant to anyone not receiving money on either end. It's...
- 1/29/2013
- cinemablend.com
NEW YORK -- The perils of financing film slates are providing lessons for refining the strategies behind the next wave of dollars, according to some of its leading practitioners.
"We're not seeing any letup at all in the interest of financing films," said David Schaefer, partner at Loeb & Loeb and one of many players in the sector who weighed in on its challenges in a pair of panels Wednesday devoted to the subject at the Dow Jones/Nielsen Media and Money Conference. "Both studios and investors are becoming more sophisticated."
The investors noted that Holly?wood attracts funds that aren't entirely motivated by financial gain, and the lure of the limelight leads to no shortage of deals.
"There is an unending supply of capital that wants to be there," said Chip Seelig of Dune Capital Management.
Relativity Media CEO Ryan Kavanaugh, whose Gun Hill I fund has received considerable scrutiny, acknowledged that early indications on Gun Hill suggest it has so far performed below expectations but cited adjustments that have been made on the deal to improve the rate of return.
"We're not seeing any letup at all in the interest of financing films," said David Schaefer, partner at Loeb & Loeb and one of many players in the sector who weighed in on its challenges in a pair of panels Wednesday devoted to the subject at the Dow Jones/Nielsen Media and Money Conference. "Both studios and investors are becoming more sophisticated."
The investors noted that Holly?wood attracts funds that aren't entirely motivated by financial gain, and the lure of the limelight leads to no shortage of deals.
"There is an unending supply of capital that wants to be there," said Chip Seelig of Dune Capital Management.
Relativity Media CEO Ryan Kavanaugh, whose Gun Hill I fund has received considerable scrutiny, acknowledged that early indications on Gun Hill suggest it has so far performed below expectations but cited adjustments that have been made on the deal to improve the rate of return.
- 11/8/2007
- The Hollywood Reporter - Movie News
PARK CITY -- Dressed up in hip clothes, cool music and an irreverent attitude, "Dedication" is, at heart, an old-fashioned love story charmingly told by first time director Justin Theroux. Although it sometimes strains for the quirky, film is buoyed by winning performances by Billy Crudup and Mandy Moore. This one could really catch on as a date destination for the indie crowd.
Henry Roth (Crudup) is a misanthropic children's book writer who works with his crusty illustrator friend Rudy Holt (Tom Wilkinson). Henry apparently has been battered and abused by life and Rudy, equally cantankerous, is virtually the only person he can get along with. After pitching an idea to kids book mogul Arthur Planck (Bob Balaban, in another one of his amusing deadpan executive roles), the guys have a huge success with "Marty the Beaver's Christmas Dam."
But everyday life is a tough thing for Henry to handle. Script by David Bromberg gives him an assortment of tics and eccentricities: He can't sleep next to his girlfriend (Christine Taylor), can barely sleep at all unless he is weighted-down by a stack of books. And if that wasn't enough, he's obsessive compulsive about turning a key only counter-clockwise and the arrangement of the place settings in his local greasy spoon. Oh, and he's scared stiff of riding in cars. He's like an amalgam of every neurotic Woody Allen character ever created. But the surprising thing is, Crudup is so good and so inherently likable that he makes the character appealing, even if his shtick sometimes seems contrived.
Unfortunately, when Rudy checks out with a brain tumor, Henry is left even more adrift and bereft. Planck pairs him up with a new illustrator, Lucy Riley (Mandy Moore), a grad-school dropout with her own problems whom Henry hates and, of course, abuses.
But anyone with eyes can see what's going to happen next. Coached by Rudy's ghost (dead people are always coming back to give advice in movies), he falls for her and gradually wrestles his demons to the ground as only movie characters can. The problem is, Lucy has an old boyfriend -- her smarmy ex-professor -- knocking on her door, and she's just not sure what to do.
If the storyline seems like a conventional boy-meets-girl-boy-loses-girl, it is. But Crudup and Moore, in a sweet performance of her own, make such a nice couple and have real chemistry together that you can't help but root for them. And Theroux has put the pieces together in a way that makes it seem fresh. One big asset is his excellent use of music, including the child-like plaintive wailing of a group called Deerhof. Other smart choices include songs by Cat Power and the Stokes, all expertly edited into the flow of the story.
The film is effectively shot on locations in New York and Sag Harbor by Steve Kazmierski. For all of the nervousness of the characters, Theroux keeps the camera relatively calm and employs some interesting angles. But for a film like this, it is ultimately about the characters, and these are good ones worth spending some time with.
Dedication
Plum Pictures, Hart/Lunsford Pictures
Credits: Director: Justin Theroux; Writer: David Bromberg; Producers: Celine Rattray, Daniela Taplin Lundberg; Executive Producers: Galt Niederhoffer, Justin Theroux, Chip Seelig, Luke Weinstock; Director of Photography: Steve Kazmierski; Production Designer: Teresa Mastropierro; Music: Tracy McNight; Additional Music: Deehof; Costume Designer: Heidi Bivens; Editor: Andy Keir.
Cast: Henry Roth: Bill Crudup; Lucy Riley: Mandy Moore; Rudy Holt: Tom Wilkinson; Robin: Dianne Weist; Jeremy: Martin Freeman; Arthur Planck: Bob Balaban; Allison: Christine Taylor.
No MPAA rating, running time: 111 minutes...
Henry Roth (Crudup) is a misanthropic children's book writer who works with his crusty illustrator friend Rudy Holt (Tom Wilkinson). Henry apparently has been battered and abused by life and Rudy, equally cantankerous, is virtually the only person he can get along with. After pitching an idea to kids book mogul Arthur Planck (Bob Balaban, in another one of his amusing deadpan executive roles), the guys have a huge success with "Marty the Beaver's Christmas Dam."
But everyday life is a tough thing for Henry to handle. Script by David Bromberg gives him an assortment of tics and eccentricities: He can't sleep next to his girlfriend (Christine Taylor), can barely sleep at all unless he is weighted-down by a stack of books. And if that wasn't enough, he's obsessive compulsive about turning a key only counter-clockwise and the arrangement of the place settings in his local greasy spoon. Oh, and he's scared stiff of riding in cars. He's like an amalgam of every neurotic Woody Allen character ever created. But the surprising thing is, Crudup is so good and so inherently likable that he makes the character appealing, even if his shtick sometimes seems contrived.
Unfortunately, when Rudy checks out with a brain tumor, Henry is left even more adrift and bereft. Planck pairs him up with a new illustrator, Lucy Riley (Mandy Moore), a grad-school dropout with her own problems whom Henry hates and, of course, abuses.
But anyone with eyes can see what's going to happen next. Coached by Rudy's ghost (dead people are always coming back to give advice in movies), he falls for her and gradually wrestles his demons to the ground as only movie characters can. The problem is, Lucy has an old boyfriend -- her smarmy ex-professor -- knocking on her door, and she's just not sure what to do.
If the storyline seems like a conventional boy-meets-girl-boy-loses-girl, it is. But Crudup and Moore, in a sweet performance of her own, make such a nice couple and have real chemistry together that you can't help but root for them. And Theroux has put the pieces together in a way that makes it seem fresh. One big asset is his excellent use of music, including the child-like plaintive wailing of a group called Deerhof. Other smart choices include songs by Cat Power and the Stokes, all expertly edited into the flow of the story.
The film is effectively shot on locations in New York and Sag Harbor by Steve Kazmierski. For all of the nervousness of the characters, Theroux keeps the camera relatively calm and employs some interesting angles. But for a film like this, it is ultimately about the characters, and these are good ones worth spending some time with.
Dedication
Plum Pictures, Hart/Lunsford Pictures
Credits: Director: Justin Theroux; Writer: David Bromberg; Producers: Celine Rattray, Daniela Taplin Lundberg; Executive Producers: Galt Niederhoffer, Justin Theroux, Chip Seelig, Luke Weinstock; Director of Photography: Steve Kazmierski; Production Designer: Teresa Mastropierro; Music: Tracy McNight; Additional Music: Deehof; Costume Designer: Heidi Bivens; Editor: Andy Keir.
Cast: Henry Roth: Bill Crudup; Lucy Riley: Mandy Moore; Rudy Holt: Tom Wilkinson; Robin: Dianne Weist; Jeremy: Martin Freeman; Arthur Planck: Bob Balaban; Allison: Christine Taylor.
No MPAA rating, running time: 111 minutes...
- 1/23/2007
- The Hollywood Reporter - Movie News
Fox Filmed Entertainment has received a second infusion of cash from Dune Entertainment.
On Friday, Fox and Dune announced an extension of their financing deal that began in January, when Dune committed $325 million to be spread across 28 Fox motion pictures (HR 1/17). The extended pact calls for Dune to invest an additional $325 million in 16 additional Fox releases.
The new agreement was announced by Fox execs Dean Hallett, executive vp finance and chief financial officer, and Victoria Rossellini, executive vp production finance and business affairs, along with Steven Mnuchin and Chip Seelig of Dune Capital Partners II Lp., the managing member of Dune Entertainment.
The deal is designed to provide Fox, which retains all worldwide distribution rights to the films, with increased financial flexibility and protection for the studio's production and release slate.
"Dune's renewed commitment is a credit to the ongoing strength and consistency of Fox's record, with the company coming off its fifth consecutive record-breaking year, and we are very pleased to continue our successful collaboration with Dune Entertainment," Rossellini said.
On Friday, Fox and Dune announced an extension of their financing deal that began in January, when Dune committed $325 million to be spread across 28 Fox motion pictures (HR 1/17). The extended pact calls for Dune to invest an additional $325 million in 16 additional Fox releases.
The new agreement was announced by Fox execs Dean Hallett, executive vp finance and chief financial officer, and Victoria Rossellini, executive vp production finance and business affairs, along with Steven Mnuchin and Chip Seelig of Dune Capital Partners II Lp., the managing member of Dune Entertainment.
The deal is designed to provide Fox, which retains all worldwide distribution rights to the films, with increased financial flexibility and protection for the studio's production and release slate.
"Dune's renewed commitment is a credit to the ongoing strength and consistency of Fox's record, with the company coming off its fifth consecutive record-breaking year, and we are very pleased to continue our successful collaboration with Dune Entertainment," Rossellini said.
- 11/19/2006
- The Hollywood Reporter - Movie News
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