We're very excited to announce this incredible strategic partnership and thrilled to be working with our good friends at Open Road.
The deal, will allow Open Road to acquire worldwide rights on selected feature projects, with FilmNation selling and servicing international. The move mean Open Road will be able to offer filmmakers equity and bank financing for productions. The company will also continue to acquire films for U.S. distribution. The pact also gives the well-respected Basner a domestic base to his burgeoning international business.
The companies will be operating together next month at the American Film Market, meeting with buyers, producers and filmmakers. Details of the first projects to emanate from the new partnership are expected in the coming weeks.
“As Open Road Films grows, expanding our domestic footprint to international sales was a natural progression,” Ortenberg said. “Glen Basner and his team are experts in global film distribution and we are thrilled to be working with them on this new venture.”
Added Basner: “Open Road Films has quickly become a real force in U.S. distribution, and we at FilmNation are thrilled to help expand their reach overseas.”
The deal was negotiated on behalf of Open Road by Ortenberg, COO and General Counsel Elliott Kleinberg and EVP Production & Acquisitions Peter Lawson, and by FilmNation’s Basner and EVP Business and Legal Affairs Alison Cohen.