Best friends forever Matt Damon and Ben Affleck are said to be in talks to establish their own new production company to make movies. According to a report in Deadline, the dynamic duo is working closely with Jeff Robinov – a former film executive at Warner Bros – and his Studio 8, and are looking to get funding for their venture from Gerry Cardinale and his RedBird Capital.
Oscar winners Ben Affleck and Matt Damon are nowadays known as much for their work behind the camera as in front of it. They have more than 50 production credits between the two of them and worked together for more than a decade on “Project Greenlight.” On that reality television series, the two movie makers worked with new up and coming filmmakers to help them get their idea for projects approved by a studio or “green lighted” as they say.
Founded in 2014 by Jeff Robinov, John Graham and Mark Miner, Studio 8 is an American a multi-platform media company funded in partnership with Fosun Group and Sony Pictures Entertainment that produces both movies and television programs. The company reportedly holds $1 billion in funding for the production of 25 new movies over the next five years.
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Founded by former Goldman Sachs Partner Gerry Cardinale, RedBird today manages $6 billion of capital principally across its core industry verticals in Sports, TMT, Financial Services and Consumer. RedBird invests with an entrepreneurial, company-building mentality, with an emphasis on capital appreciation and compounding equity returns over longer holding periods. RedBird’s network of business founders and entrepreneurs is central to its investment sourcing strategy, and its highly curated group of limited partners are active co-investors who provide scalable capital support.
So the idea here is simple: the people with the proven track record in making movies – Matt Damon and Ben Affleck – partner with the guy who knows how to run a production company – Jeff Robinov and his Studio 8 – and a money man – Gerry Cardinale and his RedBird Capital – are working on a plan to make movies together.