Castle Rock Entertainment has announced the relaunch of its film division with a $175MM film fund which will allow the company to develop, produce and finance quality films for global audiences. Academy Award Nominated director, writer and producer Rob Reiner co-founded the company in 1987, with Martin Shafer, Andrew Scheinman, Glenn Padnick and Alan Horn. Reiner will continue on as Castle Rock CEO, with Michele Reiner and Matthew George serving as Co-Presidents. Castle Rock’s film fund is backed by equity investors and top-tier entertainment banks. David Oliver of CIT Bank, N.A, which will act as administrative agent, structured the senior debt facility with Daisy Stall of California Bank &Trust.
The iconic and beloved banner will have a first-look deal with Warner Bros. on theatrical content in addition to their existing deal with Castle Rock television productions.
“I couldn’t be more thrilled,” said Rob Reiner. “The Castle Rock lighthouse has always signaled a safe harbor for the creative community. With this relaunch, we will be able to continue the tradition of providing an environment for filmmakers to do their best work.”
George previously collaborated with Reiner on the biopic LBJ and, together with Rob and Michele Reiner, produced Shock and Awe, which George also produced and financed under his Savvy Media Holdings banner. George’s credits also include acclaimed films such as Wind River starring Jeremy Renner and A Private War starringRosamund Pike.
Matthew George said: “Rob and his partners built Castle Rock into one of the most amazing brands in entertainment history. I look forward to working with Rob, Michele and our talented team of executives and creatives to build upon that legacy of making great films that impact the next generation.”
Additional key Castle Rock hires include: He nan Narea , who joins the company as CFO, following his tenure as Senior Partner at Banksville Partners LLC and Managing Director/Principal of JPMorgan Chase’s securities subsidiary in New York; Courtney Shepard as the SVP of Development who segues from her role as the Head of Development post at Savvy Media Holdings; Michelle Goldfine, who will be promoted to VP of Development from the Director of Development role she previously held at Castle Rock Television; and T.J. Bryson as a Development Executive.
The deal was negotiated by Katten Muchin Rosenman LLP for Castle Rock Entertainment, Latham & Watkins and Cohen Gardner LLP for the private equity investors and O’Melveny & Myers LLP representing the lender syndicate.
Castle Rock has produced more than 125 films including When Harry Met Sally, A Few Good Men, In the Line of Fire, City Slickers, Miss Congeniality, The American President and The Shawshank Redemption. Castle Rock also produced one of the most successful comedy series in history, Seinfeld.