DCR Finance to bring $500m in films business to Malta

DCR Finance Corp agrees a massive deal with a consortium of studios and production companies in Malta to invest a total of $500m towards films and TV in the territory. This entire sum will be channeled and invested by the consortium through DCR Finance an

DCR Finance Corp., a New York-based film and media fund founded by NY-based financier Adi Cohen and acclaimed producer Mark Damon, has announced another major milestone for their film fund.

It has signed a deal with a consortium of studios and production companies in Malta, sponsored by the Government of Malta and its Film Commission, headed by Johann Grech, to invest a total sum of $500m in films and TV projects shooting or completing in Malta.

The transaction is enabled by Malta’s generous Film Rebate programme in which films and TV projects are granted 40% of the budget spent locally as a cash rebate.

This programme has attracted many top films and TV projects to Malta including The Da Vinci Code, Troy, Alexander, Agora, World War Z, Captain Philips, Murder on the Orient Express, Munich, Gladiator and parts of Game of Thrones.

The consortium is headed by Augusto Pelliccia of Augustus Studios, who is about to expand their network of facilities and open massive operations in Malta on top of the existing one in Rome, London, Madrid and Morocco.

Pelliccia, president Augustuscolor Studios, Rome Italy and Caba Production, Malta, said: “DCR and Caba will use a new production system where post is embedded in production. The system moves post services into production, cutting cost and time, radically.

Caba embeds post in production, streamlining the production process to provide better technical services at lower prices and in a shorter time. Augustuscolor Studio and Caba are proud to have attracted, with the help of the Malta Film Commission, a partner as illustrious as DCR to Malta.

Thanks to this agreement, the tax rebate, the strategic position of the island, the diversity of locations it presents and most of all, the excellent production infrastructure of Malta, all contribute in creating value and growth for Malta.”

Pierfrancesco Fiorenza Caba: “The creative industries have proven, over the last few decades, to have been a consistent contributor to growth in Europe and we, as the technical support to this industry, are happy to provide a service that can cut costs and save time, while providing better quality image and sound, as well as the chance for artists to enhance storytelling with better technical support on set. Caba is proud to have highly skilled operators and crew in Malta with the help of Malta Enterprise and the Malta Film Commission. Caba studios will have the largest green screen in Europe.”

Cohen said: “It is indeed a great opportunity for DCR to expend its vision in film financing. DCR’s intention is to grow and provide a constant solution to filmmakers in completing their films and obtain distribution and sales. Malta, with its considerable cash rebate programme, is a viable solution to that end. It is a magnificent location with high-level service providers in films and TV, attested by the constant stream of films which are being shot and completed in Malta. This deal continues DCR’s strategy in finding new and original ways to finance films through joint ventures like the important one DCR has in the State of Georgia with Go Media’s Len Gibson and Wayne Overstreet.

DCR Finance Corp is a New York and LAbased media finance firm that specialises in across-the-board investments in films and TV projects. DCR’s intention is to provide a constant solution to filmmakers in completing their films and distributing them worldwide. “In addition to helping independent films find financing, we also help local communities in creating job opportunities and advancement, especially during these difficult times for the film industry and in particular for the independent film sector.”