Toronto-based upstart producer/financier Knightscove Entertainment has acquired an insurance-backed bond issue of US$37 million, which it will use to produce and finance 10 to 20 family films over the next four years.
The mission is to produce, co-produce and executive produce live-action children’s films that embody the ‘kids and animals versus nature’ theme, says CEO Leif Bristow, a former VP at Devine Entertainment. ‘We look at stuff like Free Willy and Old Yeller, although we’d also look at new versions of films like Mighty Ducks and Karate Kid.’
The year-old prodco will fund up to 70% of each film, with budgets as low as US$3 million and as high as US$10 million. ‘We will look at the gaps. . . and our insurance partners provide the insurance portion of the offering,’ says Bristow.
Knightscove has also opened shop in L.A., with Robert Schwartz (whose family film credits include Iron Will) stationed there as head of production operations. Bristow will helm the company’s Toronto HQ, along with head of finance Murray Marchant, a former Astral Communications executive.