NEW YORK (TheWrap.com) - Warner Bros. has signed an exclusive first-look deal with Gulfstream Pictures, a new production and financing company run by Mike Karz and Bill Bindley.
The deal, which runs two years, calls for Gulfstream to co-finance the projects with Warner Bros., which will distribute them worldwide.
"Mike and Bill have been valued members of the Warner family for a long time," Greg Silverman, president of Production for Warner Bros. Pictures, said in a statement. "We're excited to extend our relationship to include Gulfstream and eagerly anticipate making more great movies together."
Redrover LTD., a Korean 3D stereoscopic company, helped launch Gulfstream with a multi-million-dollar development fund, to which a consortium of U.S. private equity funds contributed as well.
"This opportunity is a historic step for the Korean film industry," Hoe-jin Ha, CEO of Redrover, said in a statement. "We are very excited to set up this fund, supported by Warner Bros., and we look forward to co-financing many films through this partnership with Gulfstream."
As Silverman alluded to, Karz has worked with the studio many times, producing films such as "Valentine's Day" and "New Year's Eve." Karz and Bindley are working on a pair of comedies with Warner at the moment, "West Texas United," which will star Russell Brand, and "Say Uncle," which Bindley is also attached to direct.
Source: http://news.yahoo.com/warner-bros-signs-deal-korean-backed-production-company-210941963.html
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