Tuesday, October 03, 2006

Paramount Closes $300 Million Deal

Paramount has reportedly closed a $300 million film financing deal with banker Dresdner Kleinwort to fund 30 films.

Called 'Melrose 2', the deal includes projects for Paramount Pictures, DreamWorks, MTV Films and Nickelodeon Movies. Some money has already been used to cover production costs on nine films including "Failure to Launch", "She's the Man," "Mission: Impossible III," "Nacho Libre," "Barnyard," "World Trade Center," "The Last Kiss," "Jackass: Number Two" and "Flags of Our Fathers."

Other features receiving funding include the upcoming "Freedom Writers," "Norbit," "Shooter" and "The Spiderwick Chronicles."

Paramount has bolstered its production ranks with the acquisition of DreamWorks and new film divisions in MTV Films and Nickelodeon Movies.

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