London and Singapore-based studio 108 Media is set to acquire a majority stake in British film and television finance company Piccadilly Pictures. diverse can reveal.
With its recent acquisition, 108 Media will also launch Piccadilly Pictures APAC. In order to serve the Asia-Pacific region, the Singapore-based content investment fund will focus on credit-based opportunities across its creative IP infrastructure.
The management and operating leadership of Piccadilly Entities will be longtime co-founders, producers and financiers Christopher Feige and Robert Whitehouse.
Piccadilly Pictures and its associated companies have raised and arranged approximately £150m ($183m) in the past decades by financing the entire chain, from financing productions, lending against tax credits, pre-contracted cash flow sales and rights gap financing. unsold. Notable films on the recent funding list include the Helen Mirren-starrer “Golda”; “Storm Boy” led by Geoffrey Rush; psychedelic horror “Mandy” with Nicolas Cage; the shark creature; the “great white” feature; and “Close” with Noomi Rapace.
Under the deal, Piccadilly will work directly with 108 Media CEO Abhi Rastogi, based in London, and Head of 108 Media based in Singapore, Justin Demen, to grow the Piccadilly brand and its footprint in Asia and other markets.
Rastogi said of the deal: “Piccadilly and its team will realize 108 Media’s ambitions to be the leading film and television finance company across continents reaping multiple revenue streams and lending opportunities lurking around the world, with a focus on aligning market price points through investable screen products and value-based, all backed by real-time sales data and trusted internal valuation.”
On expansion into Asia, Demaine added: “What Piccadilly Pictures APAC represents is a new way forward in how the media ecosystem is evolving in Asian regions. As the co-production of larger and more complex content from this part of the world becomes more in demand internationally, the need for cutting-edge visual media financing solutions grows. We look forward to growing our team with exceptional partners like Chris and Robert who are industry leaders, delivering great returns and offerings.”
As part of the global 108 Media group of companies, Piccadilly Pictures will expand its financing criteria to include larger feature projects, as well as more ambitious premium television programming across scripted and nonfiction. Piccadilly will inherit a number of deals from 108 Media’s existing roster as well as a large portfolio of third party projects that it will manage and evaluate.
Piccadilly’s Whitehouse and Figg said: “Given the growing demand for entertainment in the international market, this is an exciting opportunity to work with talent from around the world, including within the impressive Asian production sector. The ability to work closely with 108 Media and the additional funding available for the company will increase.” Piccadilly greatly diminished our ability and effectiveness.”
The deal is the latest in a series of 108 Media acquisitions.
Earlier this year, the company purchased previously AIM-listed distributor DCD Rights and its subsidiaries; invested in Singapore-based animation intellectual property specialists Robot Playground Media; and acquired a majority stake in Asian production company Revolution Media.
Elsewhere, 108 Media recently inked a co-financing deal with BritBox International on “Inspector Singh,” which goes into production in January 2023. The company also announced a showcasing partnership with horror maestro Neil Marshall on Nightshade, his first TV series. Since then, the Netflix reboot “Lost in Space” has been released.
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