APX Group, the New York-based U.S./European media and entertainment fund, has inked a deal with Black Deer Entertainment to set up a joint venture and fund worth €400 million ($398 million).
Black Deer Entertainment is the London/Dubai-based producton and financing company previously known as AMG.Media Group (“Gravity,” “Edge of Tomorrow”). It is headed by Poya Shohani and Christopher Hurley.
Shohani founded AMG.Media and was group CEO while Hurley is an entrepreneur and producer.
The joint venture will administrate the €400 million (each company has provided half, APX Group via its European network facilities and crypto currency and Black Deer via its VFX units) over a five-year period. The fund will be put towards an independent VFX department to service film and episodic productions made within the APX network.
APX’s London subsidiary Herd International Productions will oversee the JV, which will be managed by Herd’s Adi Cohen and Shelley Hammond in addition to Shohani and Hurley.
“We are very excited at our new collaboration with APX Group and their great worldwide team,” said Shohani. “We have already identified major animation, film and TV projects that will propel the partnership. With the continuing success of the APX group, the many fields that they are involved in and the proven track record, this gives us tremendous confidence moving forward.
Hurley added: “As a team, we are to be very selective of the projects we acquire, following an analytical approach and rigid breakdown, thus matching our strict criteria. This is an exciting time to be part of the APX Group and their vision while Black Deer Entertainment welcomes our future partnership with APX Group with great pride.”
Cohen said: “This deal is hugely exciting for not only the parties involved – but also for the global production community. Poya and Chris’s team at Black Deer Entertainment have a proven track record of outstanding professionalism, resulting in supporting productions which have gone on to win an Academy Award and countless prestigious nominations.”
Hammond added: “Black Deer Entertainment are creating something incredibly special with the ability to have a global reach of fantastic talent. Both APX and Herd are beyond thrilled to now have a presence in fast growing VFX space and the ability to offer a VFX unit in each of our APX Studios is a major milestone.”
