Variety reports: Sources say that Screen Capital International and William Morris Agency have joined forces to form a $100 million fund to finance features. Agency chairman Jim Wiatt, who guided Screen Capital in the undertaking, will unveil the details this weekend at the Cannes Film Festival.
As studios refuse to schedule production starts until they reach agreement on a new SAG deal, talent agencies are going to lean heavily on independently-financed projects to keep clients working. A major move in that direction will come as quickly as this weekend, when Wiatt makes the announcement.
The agency would not comment on Friday. Read more from Variety.
NOW WATCH: Briefing videos
Business Insider Emails & Alerts
Site highlights each day to your inbox.