LOS ANGELES (TheWrap.com) – Participant Media has formed a $ 100 million film fund with Doha Film Institute with the goal of financing 12 to 16 feature films, the companies said Wednesday.
The revolving fund extends for a five-year period and the partners will collaborate on developing, producing and arranging distribution for various projects.
In addition to the film fund, Participant and DFI are exploring a joint venture to create content for Participant’s new television channel, which will launch in August.
Participant will create a Middle East branch based at Doha Film Institute’s Qatar headquarters as part of the pact.
Participant has had a strong year at the box office, producing the breakout snowbirds in India film “The Best Exotic Marigold Hotel” ($ 134.4 million worldwide) and the Best Picture nominated “Lincoln” ($ 221.2 million worldwide).
Doha Film Institute has backed less high-profile films, such as “The Reluctant Fundamentalist” and “Just Like a Woman.”
Movies News Headlines – Yahoo! News
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