MUMBAI: Fox Filmed Entertainment (FFE) and Dune Entertainment LLC have extended their financing deal.
The announcement was made by FFE executive vice president, finance and CFO Dean Hallett and FFE executive vice president, production finance and business affairs Victoria Rossellini along with Dune Capital Partners II LP’s Steven Mnuchin and Chip Seelig, the managing member of Dune Entertainment.
Dune Entertainment and Fox have committed to extend their successful relationship, with Dune investing another $325 million in 16 additional Fox motion picture releases. The deal provides increased financial flexibility and protection for the studioÃƒÂ¢Ã¢â€šÂ¬Ã¢â€žÂ¢s production and release slate, with Fox retaining all of its distribution rights worldwide. Dresdner Kleinwort acted as sole lead advisor, arranger and underwriter of the financing for Dune Entertainment in connection with the transaction.
ÃƒÂ¢Ã¢â€šÂ¬Ã…â€œDuneÃƒÂ¢Ã¢â€šÂ¬Ã¢â€žÂ¢s renewed commitment is a credit to the ongoing strength and consistency of FoxÃƒÂ¢Ã¢â€šÂ¬Ã¢â€žÂ¢s record, with the company coming off its fifth consecutive record-breaking year, and we are very pleased to continue our successful collaboration with Dune Entertainment,ÃƒÂ¢Ã¢â€šÂ¬Ã‚Â said Rossellini.
Steven Mnuchin and Chip Seelig noted, ÃƒÂ¢Ã¢â€šÂ¬Ã…â€œWe are very pleased to extend our strategic relationship with Fox to include an additional 16 films. We continue to be strong believers in FoxÃƒÂ¢Ã¢â€šÂ¬Ã¢â€žÂ¢s long term track record of producing quality entertainment content.ÃƒÂ¢Ã¢â€šÂ¬Ã‚Â