The Film Department (TFD) was an independent

film production Filmmaking (film production) is the process by which a motion picture is produced. Filmmaking involves a number of complex and discrete stages, starting with an initial story, idea, or commission. It then continues through screenwriting, casti ...

, finance and international sales company based in

West Hollywood, California West Hollywood is a city in Los Angeles County, California, United States. Incorporated in 1984, it is home to the Sunset Strip. As of the 2020 United States Census, 2020 U.S. Census, its population was 35,757. It is considered one of the most ...

History

The company was founded in June 2007 by

Warner Independent Pictures Warner Independent Pictures was an independent film division of the American film studio Warner Bros., itself a division of Warner Bros. Discovery, which then was known as TimeWarner. Established in August 2003, its first release was 2004's ''B ...

and

Miramax Miramax, LLC, also known as Miramax Films, is an American film and television production and distribution company founded on December 19, 1979, by brothers Harvey and Bob Weinstein, and based in Los Angeles, California. It was initially a leadi ...

president Mark Gill and former Yari Film Group COO and Miramax veteran Neil Sacker. TFD received initial funding in the form of a $200 million capitalization from G.E. Capital, which was to allow them to produce 6 films per year budgeted between $10 and $45 million. The company's intention was to make star-driven, commercial pictures at the high end of every genre aimed at worldwide audiences.

Allen & Company Allen & Company LLC is an American privately held boutique investment bank based at 711 Fifth Avenue, New York. The firm specializes in real estate, technology, media and entertainment. History Founded in 1922 by Charles Robert Allen, Jr., he w ...

also played a major role in financing TFD. In July 2008, The Film Department and

Downtown Music Publishing Downtown Music Holdings is a global independent rights management and music services company. Based in New York City, it has been composed of five divisions: Downtown Music Services, Fuga, Songtrust, Adrev and CD Baby. All divisions live under the ...

announced the formation of a new music film company and partnership, TFD Music. Through the partnership, Downtown Publishing served as the exclusive, worldwide administrator for the TFD Music copyrights and master recordings, and offered music supervision and soundtrack consulting services for motion pictures. TFD's first release, ''

Law Abiding Citizen ''Law Abiding Citizen'' is a 2009 American vigilante action thriller film directed by F. Gary Gray, written by Kurt Wimmer, and starring Jamie Foxx and Gerard Butler (who also co-produced). The film takes place in Philadelphia, telling the stor ...

'' (2009), generated $73 million in domestic ticket sales. But the company was unable to pay off all the release expenses. TFD's second film, ''

The Rebound ''The Rebound'' is a 2009 American romantic comedy film written and directed by Bart Freundlich, starring Catherine Zeta-Jones and Justin Bartha. It was released in theaters in several countries in late 2009. It was originally scheduled to be re ...

'' (2009), starring

Catherine Zeta-Jones Catherine Zeta-Jones (; born 25 September 1969) is a Welsh actress. Known for her versatility, she is the recipient of various accolades, including an Academy Award, a British Academy Film Award, and a Tony Award. In 2010, she was appointed C ...

, was released by

The Weinstein Company The Weinstein Company (usually credited or abbreviated as TWC) was an American independent film studio, founded in New York City by Bob and Harvey Weinstein in March 2005. TWC was one of the largest mini-major film studios in North America prior ...

. Despite announcing plans for an

initial public offering An initial public offering (IPO) or stock launch is a public offering in which shares of a company are sold to institutional investors and usually also to retail (individual) investors. An IPO is typically underwritten by one or more investment ...

(IPO) in February 2010, all TFD had to show for itself after two years of filmmaking was one hit and $34 million of losses. The Film Department owed $62.3 million against $1.9 million of unspoken-for cash. Missed interest payments put the firm in default, and attempts to raise new equity failed. Lenders granted some leniency in hope of getting paid with IPO proceeds. According to Reuters, TFD was going to use about 40 percent of the $85 million it wanted to raise to shrink debt. That would have left enough capital to finance just two more films before it embarked on another $160 million of borrowing. The IPO was withdrawn in August 2010. TFD ceased operations in May 2011.

References

External links

Los Angeles Times

New York Times

Reuters
2007 establishments in California 2011 disestablishments in California American companies established in 2007 American companies disestablished in 2011 Companies based in West Hollywood, California Defunct companies based in Greater Los Angeles Entertainment companies based in California Film production companies of the United States Mass media companies established in 2007 Mass media companies disestablished in 2011 {{US-film-company-stub