INTESA SANPAOLO FINANCES THE US TV SERIES THOSE ABOUT TO DIE
- Thanks to the collaboration between the Media & Culture Desk of the Banca dei Territori Division and the New York Branch of the IMI Corporate & Investment Banking Division, Intesa Sanpaolo joins with Comerica Bank in an innovative pool transaction
- The TV series Those About To Die, entirely filmed in Italy, is directed by Roland Emmerich and stars Academy Awards Winner Sir Anthony Hopkins, Tom Hughes and David Wurawa
Milan/New York, 16 October 2023 – Intesa Sanpaolo provided financial support, through an innovative pool financing transaction with Comerica Bank, for the production of the US TV series Those About To Die.
The TV series, directed by Roland Emmerich and starring Sir Anthony Hopkins, Tom Hughes and David Wurawa, was entirely filmed in Italy, with logistical support from Cinecittà Studios. The production, now in its final stages, is the brainchild of Accelerated Global Content, LLC, an independent US studio founded in 2018 by producer Stuard Ford, one of the industry's most experienced and prolific independent film and television producers, recognised at the last Cannes Film Festival 2023 by Variety as a "Billion Dollar Producer".
The innovative structure of the transaction – originated by the Media & Culture Desk and executed by the New York Branch of the Italian banking group – is inspired by the Bank's experience in this field in recent years, and in particular by the co-funding initiative for the film of Michael Mann about Enzo Ferrari with Comerica Bank.
This new approach, the result of collaboration between Intesa Sanpaolo and the Banca dei Territori and IMI Corporate & Investment Banking Divisions, led by Stefano Barrese and Mauro Micillo, respectively, supports independent US productions filmed in Italy, facilitating significant incoming activity with a positive impact on the country, in terms of the economy and jobs, as well as on the growth of the sector and international promotion of the territory with positive outcome on tourism.
Intesa Sanpaolo, through its specialist Media & Culture Desk, is a leader in the national audiovisual market with over €2.5 billion disbursed to the sector since 2009 and has financed over 750 film and audiovisual productions. Through its New York branch, the Group also supports over 600 Italian companies in the United States and several US multinationals, financing large infrastructure and renewable energy projects, among others.
This year, the Group allocated new resources of an additional €5 billion to the sector as part of the overall support of €410 billion to achieve the goals of the NRRP.
In line with the NRRP's Culture 4.0 goal, Italy's leading banking group aims to foster consolidation of the Italian audiovisual industry at an international level, to sustain cultural projects that promote social and inclusive themes and to support the economic development of the sector's direct and indirect supply chains, which can benefit from the role of cinema in conveying Italy's image and culture abroad and as a tool for promoting the value of Italian-made products and Italian excellence.
"Cinema is a powerful economic catalyst for many sectors and is unique in its ability to portray Italy through images, thus helping to build the perception of the country in the world, of our culture, tourism and industry, thus attracting visitors and operators with benefits for local communities and economies," explained Stefano Barrese, Head of Intesa Sanpaolo's Banca dei Territori Division. "Leveraging our Group's synergistic operating models, we are positioning ourselves as a bank of reference for the industry and developing partnerships with leading production companies, both independently and in pools with other strategic intermediaries, such as Comerica Bank. In fact, our specialised Media and Culture desk has the expertise and capacity to support international productions with innovative solutions, thanks to the joint action with the IMI Corporate & Investment Banking Division and the Group's presence in the USA with its New York branch. Joint financing for leading international partners is thus an innovative new approach to supporting foreign productions that wish to film in Italy, with benefits for the country in terms of jobs, promotion of Italy and Italian products and growth of the audiovisual sector."
Miguel Palos, COO and Co-Founder of Accelerated Global Content (AgC):“It is very exciting to have pioneered a loan product with Comerica and Intesa Sanpaolo for Hollywood producers to be able to borrow against the Italian tax credit and VAT under a structure that we are accustomed to. This will surely attract more and more independent studios to produce their films and tv series in Italy. We certainly look forward to bringing many more AGC productions to the country and working more with Comerica and Intesa Sanpaolo to refine and perfect the process with each new show.”
Media & Associations Relations
Last updated 16 October 2023 at 11:36