Salt And Alcove Agree Mutual First Look Deal

London-based sales and finance entity The Salt Company has inked a reciprocal first look agreement with London-LA-Dubai-based production and finance entity Alcove Entertainment.
As part of the new deal, Salt will be given a fist look at Alcove productions for worldwide sales, and will in return bring new film projects to Alcove for production financing.
Alcove is currently finalising the terms of its new film fund, which over a three-year period will provide up to 50% of the financing for a minimum of five films each with budgets up to US$10 million.
Financing will consist of a combination of minimum guarantees and equity, while the fund will also have the ability to cash flow tax credits.
The fund will be organised by Devon Capital.
Samantha Horley, Managing Director of Salt, said: "Our association with Alcove reinforces our commitment to handling a diverse slate of international projects and gives us access to an innovative financing solution for our filmmakers' projects."
Alcove Entertainment is headed by executive and Dubai-National Amina Dasmal and producer Robin Fox and recently invested in Toronto's Discovery Award winner 'Cochochi', produced by Gael García Bernal, Diego Luna and Pablo Cruz's production company Canana.
Alcove's executive, Amina Dasmal, said: "The fund is a great opportunity for me to bring production to the UAE and be a part of the burgeoning industry in the region" and Robin Fox added, "we are looking forward to building on our relationship with Salt as a key element to this new venture, both in terms of access to projects and international sales expertise."
Further information is available at: www.alcoveentertainment.com.
(KMcA/JM)