The National Media Group (NMG) holding company and the Russian Direct Investment Fund (RDIF) decided to invest in the creation of a joint commercial fund for the development of cinema and animation. This is reported by the Vedomosti newspaper.
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The size of the fund will be 8 billion rubles, more than half of this amount will be contributed by NMG. The partners plan to participate in the financing of feature films and animated films for distribution both in Russia and in friendly countries in Asia, the Middle East and Latin America.
The partners plan to complete the legal procedures to register the fund in the coming months, after which the fund will begin investing in projects.
It is still unknown who will take over as CEO. The partners are negotiating “with several media directors,” an NMG representative said. The size of the annual budget and the conditions for obtaining financing have not yet been revealed.
The initial examination of film projects for financing will be carried out by the NMG. The final decision will be made by the fund’s content committee, which will include representatives from NMG and RDIF, and will be headed by NMG Studio general producer, director and producer Fyodor Bondarchuk.
Author:
Anastasia Marina
Source: RB
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