Montreal: Capital Communications cdpq, a subsidiary of Caisse de depot et placement du Quebec, has taken a minority equity share in Hollywood multimedia entertainment company Mosaic Media Group.
cdpq president Pierre Belanger wouldn’t disclose the size of the investment, estimated to be around 10%, but says the deal means the Caisse becomes the seventh partner in Mosaic.
Mosaic was created out of last summer’s merger of Atlas Entertainment and Gold-Miller and their interests in talent management and music companies Atlas-Third Rail Management and Third Rail Records.
Earlier this year, Metro-Goldwyn-Mayer and Mosaic signed a four-year, multiple-picture first-look coproduction and cofinancing deal. Mosaic’s former film division, Atlas Entertainment, headed by producer Chuck Roven, has produced or coproduced several box-office hits including Twelve Monkeys, City of Angels and Three Kings.
mgm and Mosaic in association with Helkon Media ag and Toho-Towa, which have formed a coproduction and distribution venture with Mosaic, will cofinance new feature film production, starting with the John McTiernan action film Rollerball, currently filming just north of Montreal.
mgm will control marketing and distribution in North America. Helkon will coproduce and distribute in Germany and holds the rights in the u.k., Spain and other European territories. Toho-Towa, a subsidiary of Toho, Japan’s largest film producer and exhibitor, will distribute in Japan.
Belanger says cdpq’s minority interest in Mosaic may also indirectly assist Quebec suppliers, many with cdpq investment, in networking with Mosaic.
Local special effects suppliers are pitching on Rollerball, an $86-million Cub Three Production feature produced by Roven (Cadillac Man, Cool Runnings, Sister Act ii), former Atlas topper and Mosaic partner, and director John McTiernan’s company, in association with mgm.
Mosaic principals include president Allen Shapiro, Eric L. Gold, James Miller, Scott Welsh, Pat Magnarella and Roven. Shapiro and Roven were among company principals who attended cdpq’s Aug. 24 press conference in Montreal.
Earlier this week, cdpq announced the launch of Impresario, a program that will provide investments of up to $2 million in companies in the Quebec cultural sector.
cdpq also has a 30% interest in film and tv producer/distributor TVA International, which has no part in the deal with Mosaic. However, tva senior vp Andre Provencher and TVA International president Pierre Lampron also attended the press conference. *