EXCLUSIVE: The alternative financing sector is getting some new cash reserves thanks to a partnership between Virginia-based Washington Global Investors and Mark Sennet Entertainment. Their $100M Allied Film and Television Partners film and television fund will launch later this year developing longform and limited series scripted television programs as well as 4-6 feature films annually, with 60% of its slate dedicated to TV. The fund will open a new LA office as part of the deal. Sennet Entertainment currently focuses on TV and has several projects in development with London-based FremantleMedia. Those include the one-hour Le Mans drama The Drivers, produced with Headline Pictures and Scott Free Productions. On the feature side Sennet is producing Mike Newell’s Reykjavik with Participant, starring Michael Douglas, Christoph Waltz, and Frank Langella in the story of the 1986 conference between Ronald Reagan and Gorbachev that started global nuclear disarmament, and developing the LA Confidential prequel Clandestine based on James Ellroy’s novel. William Hasselberger, who’s worked with The Carlyle Group, Riverstone Holdings, and Swank Capital, will manage the investment funds for Allied. “We couldn’t find an equity partner whose goals better aligned with our current slate and development aspirations,” said Sennet. Sennet Entertainment was repped in the deal by The Davoli Law Firm.
UPDATED SHOCKER! Kevin Tsujihara To Become Warner Bros CEO; Bruce Rosenblum And Jeff Robinov Didn’t Find Out Until Late Last Week; “I’m Disappointed; Who Wouldn’t Be?” Rosenblum States; “Excellent Choice,” Robinov Says