News
FILMMATES ENTERTAINMENT DEBUTS NEW COMPANY WEBSITE TO COINCIDE WITH CANNES FILM FESTIVAL
Los Angeles, CA- May 12, 2010
FilmMates Entertainment launches newly designed corporate website and logo to coincide with the 63rd Annual Cannes Film Festival. The website, which was designed by James Pacheco Visual Communication, will have some further enhancements over the next few months. “It’s been a very productive and satisfying experience working with James Pacheco and his team” says FilmMates President and Chairman, Jay Malla Maldonado. “James was there every step of the way, leading the team to meet our May 12 launch schedule to coincide with the start of the festival”. While Malla won’t be attending Cannes this year, the company has several projects in development and is actively seeking completed films. The company is back with a mandate to build alternative distribution platforms for its film and television library including developing, producing and monetizing its intellectual properties..
The company made its international debut at Cannes with a memorable launch party on a yacht in 2005. Guests in attendance included filmmaker Dominic Moll whose film “Lemmings” opened the festival. The following year FilmMates presented the controversial Turkish film “Valley of the Wolves Iraq”.
The company was besieged by corporate in-fighting, management dysfunction and costly litigation and was forced to temporarily suspend operations in 2007. “We are still not out of the sink hole completely” says Malla, “I have made a few mistakes in my efforts to turn this thing around and create some shareholder value. It hasn’t been easy but I am beginning to see that there’s light at the end of the tunnel.”
The company has several projects in development such as the HBO erotic series “Thrills”, a global brand that has been distributed and broadcast in every major international market and is shown domestically on HBO and CineMax. Malla, who is taking meetings with directors and potential financing partners, looks forward to having a final script ready to shoot by the end of summer with a pilot completed to present to buyers at MIPCOM and AFM.
The company had a multi-year distribution deal with Vivendi Entertainment and is working to secure working capital to bolster its mandate to distribute 6-12 pictures a year. “We’re starting to see some movement in the capital markets especially with all the film tax incentives available to producers.” says FilmMates CFO Bill Nance. “However, private equity seems to be circling the wagons waiting for the right opportunity. Having distribution and some hard assets mitigate the risk and are key elements to any financing deal”.
About FilmMates Entertainment
www.filmmates.net
About James Pacheco Visual Communication
www.jpviscom.com
About Vivendi Entertainment
www.vivendientertainment.com