Paramount Inks 30-Picture Financing Deal With Domain Capital Group – Hollywood Reporter
LOS ANGELES, CA - OCTOBER 19: The Melrose Gate of Paramount Pictures Studio located at 5555 Melrose Ave in Hollywood. A sexual assault suspect who was arrested on the Paramount lot early Monday after a 90-minute standoff with police has been identified as Bryan Gudiel Barrios. Fullerton Police Cpl. Billy Phu said that Barrios, 36, is currently hospitalized with non-lethal, self-inflicted knife wounds. Hollywood on Monday, Oct. 19, 2020 in Los Angeles, CA. (Al Seib / Los Angeles Times
Subscribe for full access to The Hollywood ReporterSubscribe for full access to The Hollywood ReporterThe slate deal locks in the Patrick R. Leardo-run investment group as a key partner for the studio as it looks to transition to Skydance Media ownership this year.
By
Erik Hayden
Executive Editor, Business
As it prepares for an ownership transition, Paramount Pictures has inked a 30-title co-financing slate deal with an investment group, Domain Capital, that looks to back features across genres and budget levels.
Upcoming titles that were named as part of the deal include Jack Quaid action thriller Novocaine, the Rihanna-led animated The Smurfs Movie, Liam Neeson remake The Naked Gun and Edgar Wright-directed The Running Man. Domain has also previously partnered with Paramount on Ridley Scott’s Gladiator II as well as holiday hit Sonic the Hedgehog 3.
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“We are privileged to be partnering with Paramount Pictures and participating in this slate of films,” said Pete Chiappetta, Domain’s Managing Director of Media, Entertainment & Technology. “The team at Paramount is dedicated to producing quality content that we hope will continue to build on the value of Domain’s film library for our investors. We are grateful to the team at Paramount that worked alongside us to kickstart this strategic collaboration.”
Paramount Pictures chief operating officer Courtney Armstrong stated, “We are thrilled to be in business and partnering with Domain to bring audiences everywhere world-class entertainment. We look forward to building a long and successful relationship.”
The multiyear deal is a long-term commitment as the studio conglomerate looks to a new era of ownership. Domain, run by CEO Patrick R. Leardo, said the co-financing slate deal could be extended to 40 features if certain unnamed benchmarks were met. The investment firm had entered into a multiyear co-financing deal in 2023 with Warner Bros. Motion Picture Group that included backing its blockbuster Barbie.
In July, Paramount Global controlling shareholder Shari Redstone inked a deal with David Ellison and Skydance Media to merge in a deal that brings together the producer of Top Gun: Maverick with the owner of Paramount’s film studio as well as CBS, Showtime, Nickelodeon, MTV, Paramount+ and other assets. The agreement is set to close in the first half of 2025 if it clears regulatory hurdles.Sign up for THR news straight to your inbox every daySign up for THR news straight to your inbox every daySubscribe for full access to The Hollywood ReporterSend us a tip using our anonymous form.
Source: http://www.hollywoodreporter.com/business/business-news/paramount-domain-capital-group-1236129662/
