Media Rights Capital
has raised $175 million to co-finance movies, an MRC source said Wednesday.
The lead investor on the deal was private-equity concern
ABRY
Partners. Also participating were AT&T, WPP Group and Goldman Sachs, three entities that invested $350 million in MRC 17 months ago.
Q&A: Media Rights Capital’s Modi Wiczyk Talks ‘House of Cards,’ Reveals Projects With Zemeckis, Wyatt
The effort amounts to a new business for MRC, which typically looks for studios to invest in its home-grown projects. The new wrinkle, though, has MRC basically doing the opposite: looking to invest in projects at major studios.
MRC is behind
House of Cards
, which Netflix says is its most-streamed show, as well as the features
Ted
,
The Adjustment Bureau
,
Bruno
and
30 Minutes or Less
.
While insiders at the independent TV and film studio say it will use the new $175 million equity investment to co-finance movies, they acknowledge that MRC has no particular project lined up just yet.