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THE FILM Council have announced that after an intensive six-month review they have agreed to the continuation of The Film Consortium’s film franchise.
The franchise awarded in 1997 by the Arts Council of England is set to run until 2003. The Film Consortium, formed by a group of independent production companies – Greenpoint, Parallax, Scala and Skreba, and Virgin Cinemas - was awarded £33.5 million Lottery funding and they aim to make 39 films in the first six years of their franchise.
The Film Council noted in their review that, prior to the acquisition of the Film Consortium by Civilian Content earlier this year, the franchise had performed below expectations. It was also noted that the injection of new capital and the creation of a revised business plan focused on growth and commercial success had re-aligned The Film Consortium with the objectives originally set for the film franchise companies.
John Woodward, CEO of The Film Council, said: “The Film Consortium has recently been revitalised and is now backed by a focused, commercially-minded publicly quoted film company. The Film Council believes that the Film Consortium management is now poised to build a successful and profitable British film company.”
The Film Council will continue to monitor the performance of the Film Consortium in achieving the targets set out within the franchise company’s business plan.
Investments made by the Film Council in the Film Consortium will continue to be made on a film-by-film basis with each project being assessed on their individual merits.
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