London and Singapore-based studio 108 Media is set to acquire a majority stake in U.K. film and TV financing firm Piccadilly Pictures, Variety can reveal. Through its latest acquisition, 108 Media …
Through its latest acquisition, 108 Media will also launch Piccadilly Pictures APAC. Serving the Asia Pacific region, the Singapore-headquartered content investment fund will focus on credit-based opportunities across the creative IP infrastructure.
Piccadilly Pictures and its associated businesses have raised and arranged approximately £150 million in the last decades through financing the entire chain, from production funding, lending against tax credits, cash-flowing contracted pre-sales, and gap financing unsold rights.
Rastogi said of the deal: “Piccadilly and its team will supercharge 108 Media’s ambitions to be the leading cross-continental film and television finance firm capturing multiple revenue streams and the latent lending opportunities across the world, with a focus on aligning the marketplace’s price points with investible and value-driven screen products, all bolstered by real-time sales data and reliable in-house assessment.
As part of 108 Media’s global group of companies, Piccadilly Pictures will be extending its funding criteria into larger feature projects, as well as more ambitious premium TV across scripted and factual. Piccadilly will inherit a number of deals from 108 Media’s current slate as well as a large pipeline of third-party projects that it will manage and evaluate.
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