MUMBAI: Paramount Pictures’ plan of a $450 million film financing deal with Deutsche Bank has collapsed.
Had the deal taken place, Deutsche would have funded 25 per cent of each Paramount film, capped at $30 million per movie.
However, as per reports, Paramount declined from negotiating with the bank on the deal because the terms had become unattractive compared with alternative sources of financing available.
Deutsche has decided to shut its film finance unit, thereby axing the entire film finance team, which includes the unit‘s top executive Laura Fazio.
Paramount is currently looking forward to revive the deal with another bank and aims to release the films, affected by the deal, on the same scheduled dates.
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