Edmonton Oilers owner Daryl Katz has formed a new company, Silver Pictures Entertainment, with veteran Hollywood producer Joel Silver.

The new venture will develop, produce and finance its own slate of feature films, TV and digital projects, both independently or via the studio system.

Katz, who in effect becomes the new financier of Warner Bros. studio-backed Silver Pictures, is founder and chairman of the Katz Group, a privately held company with pharmacy, sports and entertainment and real estate holdings.

Former ICM sales agent Hal Sadoff, who collaborated with Silver on movies like House on Haunted Hill, Thirteen Ghosts and Gothika, was named CEO of Silver Pictures Entertainment.

Silver Pictures Entertainment and Warner Bros. have active movie projects in the works, including the sequel to Project X, and a third installment of the Robert Downey Jr, Jude Law franchise Sherlock Holmes.

The slate includes Logan’s Run, Ben 10 and American author Ross Macdonald’s The Galton Case.

“Joel Silver has an incredible track record and relationships across the entertainment industry,” said Katz in a statement on Monday. “For almost four decades he’s been creating film franchises, breaking box office records and entertaining moviegoers. We are very excited to be partnering with Joel, Hal and their team to capitalize on the opportunity to build a great business by making great entertainment,” he added.

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