Quizam Media, a producer, aggregator, marketer, distributor and broadcaster of movie entertainment, announced that BlackRock Multi-Sector Income Trust completed a credit financing for Aviron Pictures, a new motion picture distribution company headquartered in Beverly Hills, CA. Quizam, through its subsidiary, holds a 10% interest in Aviron, as previously announced.
The deal with BlackRock provides a substantial credit facility that should allow Aviron to achieve its goal to acquire, market and distribute upwards of eight wide-release films a year, with competitive marketing budgets for prints and advertising. The credit facility, entered into on October 20, 2015, is a component of the milestones provided for in Quizam’s acquisition of its interest in Aviron, as previously disclosed.
“BlackRock is trusted to manage more money than any other investment firm in the world,” said Russ Rossi, Quizam president. “BlackRock’s and Quizam’s respective investments in Aviron reflect confidence in its unique model and is a positive sign for independent filmmakers. As a new acquisitions and distribution company, Aviron is aggressively looking for the best independently produced movies that it can thoughtfully market to the mainstream.”
“We have carefully evaluated the film distribution sector of the entertainment industry and are intrigued by the attractive risk-adjusted returns, particularly in this asset class, which is not correlated to the stock market,” said David Dinerstein, an advisor to Aviron on the BlackRock transaction and former president of Paramount Classics. “Most impressive is Aviron’s business model that properly aligns interest with its capital partners and with independent filmmakers. Aviron’s respect for capital, disciplined risk management protocols, and transparency is rather unique in Hollywood,” continued Dinerstein.
Added Rossi, “As the entertainment industry continues to experience tectonic shifts and major studios continue to focus on tentpole programming, there are profound opportunities for well capitalized film distributors like Aviron Pictures to acquire and distribute quality filmed entertainment in North America.”