Monday, May 23, 2011

Matthew Rhodes is named Prexy of Mandalay Vision

Our friend, Matthew Rhodes, has been named President of Mandalay Vision.  Just days after losing its head, Mandalay Vision has found a new leader and a new location. At the same time, parent company Mandalay Pictures has locked in $50 million in financing with Prescience, the company that financed The Kings Speech.  Matthew Rhodes has been named as president of the label, whose focus is on the indie side of the film business. (It recently made Soul Surfer and was behind The Kids Are All Right.)  The move follows the departure earlier this week of Celine Rattray, who is now partnering with Trudie Styler for Maven Pictures.

As part of the Rhodes era, Mandalay Vision will move from New York to Mandalay Pictures’ offices in Los Angeles.

Rhodes’s producing credits include as An Unfinished Life starring Robert Redford, Morgan Freeman and Jennifer Lopez; Southland Tales from director Richard Kelly; Passengers with Anne Hathaway; and the upcoming Nailed from director David O. Russell starring Jake Gyllenhaal and Jessica Biel.

On the financing side, Prescience will provide $50 million of production financing for a slate of up to six feature films over the next two years. Ealing Metro, the Prescience/Ealing Studios joint venture, will have an option to handle international sales on all titles that are identified under the deal.

The budgets for the projects will be in the $5 to $15 million range, with Prescience providing most of the funding, although greenlighting will happen by both entities.

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