Professional Motion Picture Production and Distribution NEWS
CFP Acquires Equity Stake in Prominent Pictures, LLC
By Staff
posted Apr 16, 2010, 15:56
$10 million to contribute towards a slate of feature films budgeting between $2M-$10M each.
(Los Angeles) Crescent Financial Partners, Inc., (CFP) announces it has signed
an agreement to acquire a minority equity stake in Prominent Pictures, LLC for
a minimum initial guaranteed commitment of $10 million to contribute towards
a slate of feature films budgeting between $2M-$10M each.
Prominent Pictures, LLC, is an independent film production and integrated media
company founded by Paull Cho and Heather Rae and represented by William Morris
Endeavor Global (WME). WME also represents Cho while United Talent Agency (UTA)
represents Rae.
Cho is an accomplished entertainment executive and producer in music, television,
and film. Heather Rae has worked as a producer and executive in the film industry
for twenty years. In September 2009, Rae was listed on Variety's Ten Producers
To Watch after producing "Frozen River" starring Melissa Leo and Misty
Upham. "Frozen River" was nominated for two Academy Awards (Best Actress
and Best Screenplay), won Gotham Awards for Best Picture and Best Actress and
was nominated for seven Spirit Awards resulting in a Best Actress win for Melissa
Leo and Producer of the Year for Rae.
Cho and Rae's synergistic relationship is demonstrated on multiple film projects
produced together prior to their newly formed banner. "Our focus is on
smart financing models for independent films by forging key strategic alliances
with distributors, studios, and agencies that address the best means of commercial
success for each individual project we choose to produce- not necessarily as
a slate. It's about making smart films, one film at a time," states Cho.
Their anticipated slate includes feature films Sian Heder's "Tallulah"
and Von Friedenberg's "A Thousand Guns" starring Academy Award Nominee
Vera Farmiga. "Paull and I are thrilled about the opportunity CFP is providing
us," Rae remarks. "We intend to make bold statements in the marketplace
by producing content that speaks to the commercial and visionary aspects of
the industry. Prominent will support the finest writers, directors and actors
in their best work."
Russell Armstrong, Managing Director of Crescent Financial Partners, Inc.,
asserts, "We are pleased to have this opportunity to work with a visionary
like Paull Cho and such a talented producer as Heather Rae who has cultivated
20 years of respect from her peers and is in the pantheon of elite producers
in film."
"Through Prominent," continues Armstrong, "Heather Rae and Paull
are working on a very exciting slate of films that we believe could potentially
rival the quality and success of 'Frozen River.'"
Resources:
www.crescentfinancialpartners.com
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