Entertainment Partners Opens New Finance Division

ENTERTAINMENT – Mark Madler Producers now will have an easier time getting money offered by film production tax incentive programs. Entertainment Partners Inc. in Burbank has started a new financing division that will get money into the hands of producers sooner. Small, boutique firms provide similar services on a state-by-state basis so the difference Entertainment Partners brings is its national and global reach, said Chief Operating Officer Mark Prior. Tax incentives for feature film and television production are offered in multiple states and foreign countries, including the United Kingdom, Ireland, Canada, Australia, New Zealand, and Romania. Entertainment Partners provides financing upfront in the amount of tax incentive the production receives and then is later reimbursed. “It is money that would have gone to (the producers) had they chosen to wait,” Prior said. “That money essentially comes to us.” The model for the program is based on one Prior used in Canada when he worked for Entertainment Partners in that country. Canada was a pioneer in film production tax credit programs, Prior said. “It validated the need for producers to get this money as soon as possible,” Prior said. John Hadity was hired as the head of the financing division. He will work out of the New York office of Entertainment Partners. Hadity worked for 12 years at Miramax Films, where he was executive vice president of motion picture and television production finance. He has been a guest lecturer at the Yale, Columbia, and Harvard business schools. “He has an absolutely stellar reputation and everyone knows him,” Prior said of Hadity. The tax incentives offered by other states have drawn fire for taking work away from the Los Angeles area where so much of the entertainment industry is still based. Entertainment Partners does not try to go in one direction or another on the states offering these programs, but rather is directing and assisting its clients about the programs and helping them to maximize those financial benefits, Prior said. The states that are most successful with tax credits are those that are patient and build up support services that productions need, Prior said. “The more infrastructure you get the more people want to shoot there,” Prior added. Image Acquires Films Image Entertainment Inc. acquired the distribution rights to two films from MarVista Entertainment. Image, based in Chatsworth, has home entertainment and digital rights to “The Witches of OZ” and “Radio Rebel.” Both films are based on popular book series. “The Witches of OZ” is based on the work of L. Frank Baum, creator of “The Wizard of OZ.” “Radio Rebel” features characters from the novel “Shrinking Violet” by Danielle Joseph. “Radio Rebel” premiered Feb. 17 on the Disney Channel. Image is thrilled to add the family films to its library, said Chief Acquisitions Officer Bill Bromiley. “With the recent popularity of ‘Once Upon a Time,’ (on ABC) “The Witches of OZ” will quickly find its audience,” Bromiley said in a prepared statement. “And Debby Ryan, who stars in “Radio Rebel”, has always been a fan and family favorite. The MarVista team knows the marketplace when it comes to family fare.” Award for Music Video Digital Revolution Studios in Van Nuys won a Lumiere Award from the International 3D Society for its work on the music video “Don’t Stop” by Foster the People. Digital Revolution received the award in the 3D Television and Electronic Broadcast category at the society’s 3rd annual awards on Feb. 1 in Beverly Hills. “Don’t Stop” was the first music video for Digital Revolution and required a quick turn around with the post production. The work was done for Sony Music and Nintendo in conjunction with Pretty Bird Productions. Digital Revolution is headed up by Oscar-nominated and Emmy winning producer Craig Tanner, who was visual effects editor for “Avatar,” the 3D blockbuster directed by James Cameron. Visual Effect Society Awards A week after the International 3D Society Awards it was the Visual Effect Society’s turn to recognize the work of entertainment industry professionals. About 1,000 people came out to the Beverly Hills Hilton on Feb. 7 to recognize the work visual effects artists did for feature films, television, commercial, video games, student films, and special venue projects. The big winner of the night was “Rango,” which won awards in all the categories in which it was nominated including outstanding visual effects in an animated film. “Rise of the Planet of the Apes” and “Transformers: Dark of the Moon” tied for live action films with two awards each. The society presented the Lifetime Achievement Award to Stan Lee, creator of characters Spiderman, Iron Man, Incredible Hulk and other superheroes, and the Georges Melies Award to effects pioneer, director and writer Douglas Trumbull. Staff Reporter Mark Madler can be reached at (818) 316-3126 or by e-mail at [email protected]