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August 7th, 2002
European Financing Tightens for Movie and TV Producers
2002 saw the tightening in Europe of rules and regulations governing tax advantaged or structured financing opportunities which had previously existed for US movie and television producers.
United Kingdom restricts sale/leaseback. In the UK, sale/leaseback opportunities are no longer available for television productions; sale/leaseback is only available for feature films. Defining a "feature film", of course, still leaves some room for creativity. Showtime and HBO have occasionally financed films, which have been given a theatrical release, either before or after airing on their channels. If a picture such as "The Last Seduction" starring Linda Fiorentino is shot in the UK and given such a release, can it qualify under the new UK restrictions? Stay tuned.
Germans make it harder to achieve "producer" status. The German government tightened the definition of "producer." To qualify as a producer, a German company now has to be involved with a project preferably before the start of principal photography and certainly by no later than half way through principal photography. Also, at least 80% of production cost now must be spent or firmly committed to be spent by the end of the fiscal year in which the investment is made. Projections are also required in order to demonstrate a reasonable expectation that an investment will be profitable for the investors. These requirements make it much more difficult for US production companies to access financing in Germany, although there are still opportunities for creative financing structures.
Other Entertainment Law Alerts
Major Studios and Guilds Forge New COVID-19 Production Safety Agreement
As production begins to restart in an ever changing COVID-19 landscape, The Alliance of Motion Picture and Television Producers (AMPTP) and other major studios announced an important deal with the DGA, IATSE, Teamsters, Basic Crafts, and SAG-AFTRA -- meant to ensure the safety and security of their members during the upcoming months. Read more.
September 22 2020
New York City Reopens for Film and Television Production
On July 17, 2020 NYC Mayor Bill de Blasio announced that, with the City entering Phase Four of Reopening on Monday July 20th, 2020, film and television production in the City can restart again in earnest. Read more.
July 21 2020
Los Angeles County Authorizes Television, Film, and Music Production Resume on June 12, 2020 With Strict Regulations
On June 11, Los Angeles County approved a staged resumption of film and TV production beginning June 12, 2020. However, it comes with extensive regulations. Read more.
June 16 2020