Mandalay Vision, the independent development, production and financing label, has made a two-year, $50 million financing pact with financier Prescience. The deal will provide financing for up to six feature films. Mandalay Vision is a division of Mandalay Pictures, run by chairman Peter Guber, and has a first look deal with Universal Pictures.
Projects under the new deal will be greenlit and jointly financed by Mandalay Vision and Prescience. Budgets are expected to range between $5 to $15 million, with the majority of the production financing being provided by Prescience. Ealing Metro, a new company formed by Prescience and Ealing Studios, has an option to handle international sales on movies financed under the deal. Mandalay scored a recent hit with the low-budget drama SOUL SURFER, which grossed $37.4 million domestically, and recently sold SALVATION BOULEVARD to IFC Films.