Los Angeles-based Broidy Capital Management will begin providing strategic advice to the $200-million Panda Fund which bankrolls prints and advertising (P&A) projects and production financing for heavy-weights like Sony, Open Road, Samuel Goldwyn and MGM.
Broidy Capital, headed and founded by Elliott Broidy in 1991, will also manage Panda’s library assets in the Video On Demand (VOD) arena.
“Broidy Capital can give us an insight and knowledge into the more traditional financial marketplace that will allow us to better manage and access capital,” says J. David Williams, Panda’s acting fund manager. “Elliott Broidy has acquired and managed film and media library assets previously. His growth-driven strategies and long history with institutional investors will add significantly to the fund.”
Williams is a former managing director at Credit Lyonnais and is well-known for his work with MGM’s Star Partners and Fox’s Millenium Partners.
Williams, who formed FilmCrest in 1986, participated in such great films as Rain Man, A Fish Called Wanda, Glory, Edward Scissorhands, My Stepmother’s an Alien, Thelma and Louise, Defenseless, Lawnmowerman, Glengarry Glen Ross, Fern Gully, True Romance, Peter’s Friends, and Much Ado About Nothing.
Prints are the actual physical films that are shown in each theater. Advertising is the part of the budget that is spent on TV, radio, newspapers, magazines, Internet and in-theater.
According to the Motion Picture Assoc. of America, the average P&A budget for a major studio release is about $35-million.
“We are humbled by the confidence that Panda Media has placed in Broidy Capital,” says Elliott Broidy, Chairman and CEO of Broidy Capital Management. “At the same time we are excited about the investment prospects of this fund and enormously bullish about the future.”
Elliott Broidy, a venture capitalist who has more than 30 years experience in financial management, previously held top executive positions at Bell Enterprises and Markstone Capital.
SOURCE: Broidy Capital Management
This press release is distributed by PR NewsChannel. Your News. Everywhere.