Former Universal Pictures co-chairman David Linde has formalized a funding arrangement with Reliance Entertainment and set Tory Metzger to be head of production for his new company, both of which Deadline told you would happen months ago. I still expect the company to be called Lava Bear when all is said and done, but as of now it’s unnamed. Linde has also named Adam Rymer COO. He intends to make one to three movies a year for the next four years. Here’s the release that makes the whole thing official:
Los Angeles, CA – May 24, 2011 – David Linde and Reliance Entertainment jointly announced today the official formation and funding of Linde’s new company, a new platform for film production and financing. Reliance Entertainment is providing the capital to finance the yet unnamed new venture. Working from a global distribution structure combining studio and independent distribution, the company will both produce and finance projects creating a clear “brand” of films designed for the worldwide marketplace.
For nearly two decades, Linde has proven a unique ability to join a singular vision with the intricacies of the domestic and international film marketplace. The new entity is specifically designed to take advantage of Linde’s experience in successfully bridging studio and independent production and distribution while managing and building both existing and start-up companies.