Producer Adrian Guerra and film finance specialist Xavi Parache have teamed to create Oceano Media, a Barcelona-based financial broker and consultancy.
Move pairs two young movers and shakers on the Spanish film scene. Guerra most recently produced helmer Eugenio Mira’s “Grand Piano,” (pictured) starring Elijah Wood and John Cusack, which market preems at Cannes, sold by Solution Entertainment. Parache represents Paris bank Natixis Coficine, Europe’s biggest film lender, in Spain and Latin America.
Barcelona-based Oceano Media will raise finance for productions, attracting investment via Spain’s 18% tax breaks.
Oceano will work with the expertise and investor contacts of tax consultancy companies PricewaterhouseCoopers, Ernst & Young and Cuatrecasas, one of Spain’s most venerable law firms, Guerra said.
The first two movies that Oceano Media will help finance out of Spain are: Andrea di Stefano’s Pathe Intl.-sold “Paradise Lost,” with Benicio del Toro as Pablo Escobar, produced by Chapter 2 and Studio 37, and co-produced by Roxbury Pictures; and Jaume Balaguero’s fright franchise closer “REC 4 Apocalypse,” from Barcelona’s Filmax.
“Bringing to Spain big foreign productions that companies co-produce, we can create jobs and provide Spanish producers with tools for attractive co-productions,” Guerra said.
“The aim is to create a bridge between film producers and investors. This exists in Germany, France and the U.K. but is very weak in Spain,” added Parache, a former international tax department consultant at Ernst & Young.