Nov 16, 2020
Great Point seeks to raise £200m to bankroll TV streaming boom
An investment trust dedicated to independent film and television finance aims to raise at least £200m in London to rouse a sleepy market for listings with optimism about streaming. The Great Point Entertainment Income Trust would be the first to float in London with a remit to bankroll content made for broadcasters and streaming services such as Netflix and Amazon. Jim Reeve, Great Point chief executive, intends to raise £200m-£250m and eventually up to £1bn, despite doubts over investor appetite for new offerings. Great Point, which was involved in financing disaster movie Greenland, is one of a number of groups aiming to tap investor interest in media content, including Guernsey incorporated US music publisher Round Hill Music Royalty Fund, which is seeking to list in the UK to raise $375m. Non-executives directors of the fund include Tamara Howe, a former executive at Vice TV and the BBC; Stephanie Mills, the former group financial controller of Channel 4; and Askandar Samad, a veteran media finance lawyer.
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