By Ray Pride Pride@moviecitynews.com

Bold Films Extends $50 Million Finance Pact with Comerica Bank

[pr] Three Year Agreement Will Fund Future Film and TV Slate

Los Angeles, Calif., Oct. 24, 2017 – Bold Films renews and increases its revolving line of credit with Comerica Bank, a $50 million dollar debt facility that extends for three years. The deal provides financing for the independent studio to produce four to six films a year and ramp up their TV slate. Bold’s continued success includes “Stronger” (Jake Gyllenhaal) based on the 2013 Boston bombing, which premiered at the 2017 Toronto International Film Festival to strong reviews, and released theatrically last month through LGF/Roadside Attractions.

Bold Films CFO Rob Mitchell led the credit facility deal for the company. Bold was repped by Legal Counsel Miles Mogulescu. Adam Korn handled the deal on behalf of Comerica.

“We are thrilled to continue our valued partnership with Comerica,” said Bold Films CFO Rob Mitchell. “The facility extension and expansion allows Bold to efficiently finance its production slate as we shift to produce more big budget films.”

“Bold’s prestige brand and pipeline of films along with Comerica Bank’s knowledge of film finance makes for a great partnership. We’ve had the privilege of serving as trusted advisors to Bold for more than four years and look forward to helping the company continue to grow their film and TV business,” said Adam Korn, Senior Vice President/Alternate Group Manager for Comerica.

Bold Films first entered their first deal with Comerica in 2013.

About Bold Films

Bold Films, founded in 2004 by Michel Litvak and Gary Michael Walters, is an independent entertainment production and finance company dedicated to providing an artistic haven for creative talent. Bold Films’ mission is to produce original, studio-quality films, which have worldwide commercial appeal. Bold Films has financed and produced Academy Award-nominated films, including Dan Gilroy’s “Nightcrawler,” starring Jake Gyllenhaal, Rene Russo and Bill Paxton; Damien Chazelle’s “Whiplash,” starring Miles Teller and J.K. Simmons; and Nicholas Winding Refn’s “Drive” starring Ryan Gosling, Carey Mulligan, Bryan Cranston and Oscar Isaacs. Bold most recently released David Gordon Green’s “Stronger,” starring Jake Gyllenhaal, for Lionsgate and Roadside Attractions. Bold’s previous releases include “The Neon Demon,” “Bobby,” “Legion” and “No Escape.”

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It shows how out of it I was in trying to be in it, acknowledging that I was out of it to myself, and then thinking, “Okay, how do I stop being out of it? Well, I get some legitimate illogical narrative ideas” — some novel, you know?

So I decided on three writers that I might be able to option their material and get some producer, or myself as producer, and then get some writer to do a screenplay on it, and maybe make a movie.

And so the three projects were “Do Androids Dream of Electric Sheep,” “Naked Lunch” and a collection of Bukowski. Which, in 1975, forget it — I mean, that was nuts. Hollywood would not touch any of that, but I was looking for something commercial, and I thought that all of these things were coming.

There would be no Blade Runner if there was no Ray Bradbury. I couldn’t find Philip K. Dick. His agent didn’t even know where he was. And so I gave up.

I was walking down the street and I ran into Bradbury — he directed a play that I was going to do as an actor, so we know each other, but he yelled “hi” — and I’d forgot who he was.

So at my girlfriend Barbara Hershey’s urging — I was with her at that moment — she said, “Talk to him! That guy really wants to talk to you,” and I said “No, fuck him,” and keep walking.

But then I did, and then I realized who it was, and I thought, “Wait, he’s in that realm, maybe he knows Philip K. Dick.” I said, “You know a guy named—” “Yeah, sure — you want his phone number?”

My friend paid my rent for a year while I wrote, because it turned out we couldn’t get a writer. My friends kept on me about, well, if you can’t get a writer, then you write.”
~ Hampton Fancher

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~ David Simon