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Montecito Raises $200 Million for 10 Picture Film Slate for DreamWorks

LOS ANGELES, Aug. 14 /PRNewswire/ — A $200 million production facility has been raised to co-finance motion pictures produced by The Montecito Picture Company. The transaction was announced by Montecito principals Tom Pollock and Ivan Reitman.

The new financing vehicle, to be called Cold Spring Picture LLC, will co-finance ten motion pictures over the next five years. Cold Spring will have a first look agreement with DreamWorks Studios, coinciding with Montecito’s new five year first look agreement with DreamWorks, a relationship which has resulted in a number of successful comedies including ROAD TRIP (2000) and OLD SCHOOL (2003). The first of the ten Cold Spring pictures, DISTURBIA, starring Shia LaBeouf, David Morse, Carrie-Anne Moss and Sarah Roemer, directed by DJ Caruso, has already completed principal photography, and will be released by DreamWorks through Paramount Pictures in 2007.

The $200 million capitalization is a combination of equity provided by Merrill Lynch and a consortium of hedge funds, together with bank debt, provided by a team of banks led by Merrill Lynch and Societe General.

Pollock and Reitman pointed out that while the agreement gives DreamWorks a first look on all Montecito and Cold Spring pictures they are free to accept projects from other major studios and to set up pictures that DreamWorks declines to co-finance.

"It is my hope to continue to create wonderful movies that will launch the film careers of a new generation of comedy talent," said Reitman.

"I’m proud of the confidence shown us by Merrill Lynch and our equity partners, as well as by Societe General," added Tom Pollock. "We are all very excited to be continuing our extremely productive six year relationship with DreamWorks."

Mike Blum, Managing Director and Head of Global Structured Finance & Investments, at Merrill Lynch, added "This deal is groundbreaking. We believe this is a unique investment opportunity to capitalize on the skills and experience of two of the most successful producers in Hollywood. The combination of 30 years of Ivan’s directing and producing, and Tom’s extensive background as an entertainment attorney, Chairman of Universal Pictures, and a Producer at Montecito are the ideal combination."

DreamWorks Co-Chairman and CEO, Stacey Snider said, "We are equally pleased about our continuing relationship with Montecito. We’ve loved working with Ivan, Tom, and all of us at DreamWorks look forward to working with their company to develop and produce films for a worldwide audience."

Deal was negotiated by Loeb & Loeb and Ziffren Brittenham with DreamWorks on behalf of Montecito and Cold Spring Pictures. The financing and banking arrangement by Sidley and Austin on behalf of Merrill Lynch and by Shepherd Mullin on behalf of Societe General and by Loeb & Loeb on behalf of Montecito and Cold Spring Pictures. The Spartan Group acted as Financial Advisor.

Toronto film fest to offer $10,000 prize to independent producer

TORONTO (CP) _ Independent Canadian film producers will have a shot at a $10,000 prize at the Toronto International Film Festival next month.

The award is funded by and named after the non-profit Canadian Film and Television Production Association.

The recipient will be selected by a jury including Canadian director Norman Jewison, Movie Central’s creative chief Shelley Gillen and C.R.A.Z.Y. producer Pierre Even.

The winner will be announced Sept. 8 at an industry event during the festival, which runs Sept. 7-16.

"The CFTPA created this award to recognize the hard work and dedication that making films represents, and to encourage further success," Kelley Alexander, director of Industry Initiatives program, said Monday in a release. The CFTPA association represents almost 400 film, television and interactive media companies across the country.

Filmmakers will also have the chance to win $10,000 at the festival’s annual Pitch This session.

Six finalists will have six minutes to sell their feature film idea to an audience of industry professionals.

Not meeting obligations, says CEP – CHUM hit with CRTC complaint

OTTAWA, Aug. 15 /CNW Telbec/ – Chum Limited is in violation of its TV station licences and the CRTC should call an inquiry into the issue and require that the broadcaster fulfill its licence obligations and commitments, says Canada’s largest media union.

The Communications, Energy and Paperworkers Union of Canada has filed a complaint with the Canadian Radio/Television and Telecommunications Commission

(CRTC) in which it is asking the CRTC to declare CHUM Limited in violation of its TV station licenses as a result of recent program cancellations at various stations across the country.

"The dramatic reductions in local programming run counter to explicit commitments made by CHUM to the CRTC. The cuts also have the effect of reducing local content to such a level that at some locations, CHUM is no longer in compliance with its conditions of license," a CEP complaint filed with the CRTC states.

Stations most dramatically affected by the cuts, mainly in local news coverage, include A-Channel Ottawa; A-Channel Victoria; CityTV Calgary; CityTV Edmonton; CityTV Vancouver; and, CityTV Winnipeg. Locals news coverage, the complaint adds, has also suffered at the A-Channel in Barrie, Ontario. The massive cuts resulted in the loss of 281 jobs at the various stations and came on the same day that CHUM announced the sale of its TV stations to Bell Globemedia.

"CHUM’s contention that these cuts were unrelated to the sale and were due solely to poor ratings is a marvelous coincidence for the bottom line, and particularly the buyer," said Peter Murdoch, CEP Media Vice- President. "But at any rate, poor ratings do not permit a broadcaster to abandon its conditions of licence."

"Our concerns are two fold," Mr. Murdoch added. "The impact on our members at these stations has been enormously adverse and we obviously want to mitigate those effects. But we also want to ensure that the commitments broadcasters make in acquiring licences have meaning.

"License conditions and legislation under the Broadcast Act are there to ensure that public interest is an integral part of media accountability. The purchase of a national network isn’t an episode of banal reality television – this has an effect on the fabric of the country.

"We expect the CRTC to call an inquiry into our complaint immediately. Canadians want an opportunity to voice their concerns to our regulatory agency," said Murdoch. The 150,000 member CEP is Canada’s largest union of media workers.

Entertainment One Income Fund announces departure of its CFO

TORONTO, Aug. 15 /CNW/ – Entertainment One Income Fund (TSX: EOF.UN), a major distributor of home entertainment products, today announced that effective immediately Mr. Chris Jamieson ceased to be the Chief Financial Officer of the Fund and its affiliates. Mr. Jamieson was the Chief Financial Officer from the time of Entertainment One’s initial public offering in November 2003, as ROW Entertainment Income Fund.

"Mr. Jamieson’s departure is as a result of certain management reorganizations Entertainment One is undergoing to improve unitholder value," said Darren Throop, President and Chief Executive Officer.

Mr. Throop expressed his gratitude to Mr. Jamieson, stating that, "I would like to thank Chris, on behalf of Entertainment One and the other members of Entertainment One’s board, for the contribution he has made to Entertainment One during his tenure as Entertainment One’s Chief Financial Officer."

Entertainment One is in the process of hiring a new Chief Financial Officer.

MTV Hit Series Laguna Beach Launches Third Season in Canada Across Six Platforms

TORONTO, Aug. 14 /CNW/ – MTV is heading back to Orange County, California for the new season of the popular reality show Laguna Beach, premiering in the "10 Spot," Wednesday, Sept. 6 at 10 p.m. ET/PT, only on MTV. It’s Season 3 of Laguna Beach and although the players are new, the talk remains the same – scheming high school politics, hookups, breakups, love triangles and popular cliques. And this season, in true MTV style, the addictive hit series will launch in Canada across six different platforms designed to make sure that Laguna Beach is available to audiences when they want it, how they want and where they want it.

"Our audience is constantly demanding more. More content. More places. More access – and when it comes to Laguna Beach, more DRAMA," said Brad Schwartz, Senior Vice-President and General Manager, MTV. "Canadians are grabbing the entertainment they want on whatever device they want. The new media model is to be ‘everywhere at once’ and Laguna Beach is the ultimate example of that strategy."

Season 3 of Laguna Beach will be available on the following MTV platforms: specialty television, broadband, Video on Demand (VOD), mobile, conventional television, and via live After Shows at The Masonic Temple.

The six MTV platforms featuring Laguna Beach content are:

1. On Specialty:

Beginning Wednesday, Sept. 6 at 10 p.m. with the half-hour Season 3 premiere, Laguna Beach will air in the "10 Spot," MTV’s prime time destination for all of the hottest shows.

In addition, fans can relive all the drama-filled Laguna Beach moments from Seasons 1 and 2 during a Labour Day weekend "Laguna-thon." Eleven episodes from Season 1 air Sunday, Sept. 3 from 12 noon – 6 p.m. ET/PT. On Monday, Sept. 4 from 12 noon – 9 p.m. ET/PT the "Laguna-thon" concludes with 17 episodes from Season 2.

2. On Broadband:

Immediately following the broadcast premiere and every week thereafter, Laguna Beach fans can watch Laguna Beach: The After Show exclusively on MTV Overdrive at www.mtv.ca. Laguna Beach: The After Show features interviews, personal home and car tours of cast members and behind-the-scenes cast video diaries that further explore their interests and hobbies (i.e. surfing, band practice and dance rehearsals).

Addtionally, MTV Overdrive will have every episode of Laguna Beach Seasons 1 and 2 available for free on-demand – so catching up will never be a problem.

3. On Video on Demand (VOD):

As previously announced, the first season of Laguna Beach is now available on Rogers On Demand. Rogers Personal TV customers with a digital box have access to Laguna Beach Season 1 for free on Channel 100.

In addition, MTV and Bell ExpressVu have launched "FreeVu: MTV Tuesdays," which kicked off August 8 with the entire first season of Laguna Beach on Vu20, Channel 370.

4. On Mobile:

Starting today, MTV fans can watch an exclusive sneak peak of Laguna Beach, Season 3 on their Bell Mobility video phone. Ring tones and wallpapers of the hot new cast are also available for download to all Bell Mobility customers. The new content is available exclusively via the "10 Spot Grab" on Bell Mobility.

5. On Conventional:

MTV’s branded block of programming on CTV gets a little taste of California on Wednesday, Sept. 9 at 12 midnight ET when MTV on CTV airs the half-hour premiere of Laguna Beach Season 3.

6. Live at The Masonic Temple:

Every Wednesday at 10:30 p.m. ET, the Laguna Beach after Show debates and dissects the episode that JUST aired on MTV. This is the opportunity for Canadians from across the country and around the globe to weigh in with ideas, thoughts, comments and rants about the hit series. The live discussion, moderated by MTV personalities, allows for interactive discussion surrounding the themes and issues raised in Laguna Beach. Participation is open via mobile phones, web cams, e-mails, telephones, blogs, chatrooms and live in person at The Masonic Temple.

In the third season, Laguna Beach reveals a variety of coming of age stories surrounding high school life. A girl will find love for the first time, but will she hold onto it? Will a lifelong friendship turn into something more? Does a high school rock band have a chance at making it big? And will a girl ousted from the popular clique find her way back in?

In addition, as of August 8, Laguna Beach The Complete Second Season is available on DVD, including all 17 episodes and bonus features such as: deleted scenes and cast interviews; Laguna Beach Memories – cast home videos and childhood photos; Laguna Beach Highlights – Girls are Vicious and The Two Triangles; featurettes including the Laguna Guide to Love, Fight the Slide 2005, Behind the Season Two Finale with the cast, the Sixteen magazine cover shoot with Kristin, and the Cosmo Girl magazine photo shoot with the guys of Laguna. The three-disc set is available wherever DVDs are sold.

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