Herd Productions — set up by the founders of Burning Wheel and The Engine Room — will become a subsidiary of APX in the U.K. with a starting budget of $105 million.
Under the terms of the deal, Hammond will join the board of APX with immediate effect, with Ellis and Richmond forming the Herd board alongside two representatives of APX.
“We are absolutely delighted to be merging with APX on this journey,” said Hammong and Richmond. “From early discussions, we instantly knew we all shared a common drive to create both film and episodic Content which resonates with the world today. With a well-developed slate primed for production, we are beyond excited to start this next chapter together.”
Added Dillon: “To announce this joint venture with APX is a very important milestone for Herd. It affords us a platform to deliver a wide genre of culturally important, current and historical Film & HETV to audiences worldwide. I know I can speak on behalf of the whole team here at Herd in saying that we are all truly excited and eagerly anticipate both the short and long-term future of the company.
The deal with Herd marks the latest deal for New York-based APX, whose film and TV fund was launched in October 2021. Last year it partnered with Beyonce’s father Mathew Knowles and his Music World Entertainment Group to invest $275 million in Italian TV and film co-productions, and earlier this year unveiled a pact with Cenya Productions to develop features for Latin America, with $20 million each year earmarked for co-productions from Brazil, Mexico and Argentina over the next five years.
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