TORONTO, – Toronto Film Studios Inc. announced that the development of FILMPORT, Toronto’s new film and media district in the Port Lands, has been organized under a new equity holder called Filmport Inc., which will own TFS and other FILMPORT entities. TFS also announced that Comweb Studio Holdings Inc. (Comweb), an entity wholly owned by Comweb Corporation led by industry veteran Paul Bronfman, has been added as one of FILMPORT’s shareholders, joining Rose Film Studios Inc., and a company owned by TFS president, Ken Ferguson.
Together, the shareholders will invest over $30 million of equity capital in the venture. Conventional construction-to-permanent debt financing will make up the balance of capital for the $60 million Phase 1 Complex. Lytton Financial Inc. acted as exclusive advisor to TFS with respect to the financing of FILMPORT.
"FILMPORT is now a well-capitalized and well-financed project led by a board of directors with expertise in both real estate development and film and television production," said Ken Ferguson, president of Filmport Inc. "We welcome Comweb as a shareholder and are excited about the bench strength we will gain with Paul Bronfman."
Rose Film Studios Inc. (Rose) is wholly owned by The Rose Corporation who, along with its subsidiary Toronto Film Studios, won the world-wide bid for the rights to build a mega-studio complex on property in the Port Lands owned by the Toronto Economic Development Corporation (TEDCO). Rose has financed all of the FILMPORT development costs to date.
In addition to his new role as president of Filmport Inc., Ken Ferguson is also president of Toronto Film Studios Inc. Ferguson has operated TFS since 1998 and was instrumental in securing the rights to build FILMPORT on the TEDCO site. He is also a professional engineer with over 30 years of real estate development experience.
"Comweb is committed to the development in Toronto of the best full-service infrastructure in the world for film and television production," stated Comweb Chairman and CEO, Paul Bronfman. "This is a sound investment for us and for our industry. We clearly understand how FILMPORT will enhance Toronto’s ability to compete for top productions that benefit from, and employ, our solid base of highly experienced filmmaking professionals."
While Comweb and its subsidiaries will play an important role in the realization of FILMPORT, both Comweb and Filmport Inc. confirm that none of Comweb’s subsidiaries will have exclusive rights to provide equipment or services at FILMPORT.