Imagenation Abu Dhabi has formed a $10 million film fund with Walter Parkes and Laurie MacDonald of Parkes/MacDonald Productions, the husband-and-wife team that formerly headed DreamWorks Studios. The new company will invest in future Parkes/MacDonald projects developed under a deal which gives them the first option to invest in projects by DreamWorks Studios, as well as directly with Imagenation Abu Dhabi, a subsidiary of Abu Dhabi Media Company, which also owns and publishes The National.
"Walter and Laurie have a proven track record and knack for developing quality scripts that attract extraordinary talent," said Edward Borgerding, the chief executive of Imagenational Abu Dhabi and ADMC. "We look forward to partnering with them and ultimately financing many of their productions through our affiliate companies." Parkes/MadDonald, formed in 2005, has an upcoming slate of films that includes Jay Roach's Dinner for Schmucks, Motorcade and Men in Black 3. As the former co-heads of DreamWorlks, Mr Parkes and Ms MacDonald were responsible for the development and production of films such as Catch Me If You Can, American Beauty, The Terminal, Gladiator, Saving Private Ryan and Almost Famous.
The deal marks the fourth major partnership for the year-old Imagenation, which also has film funds with Participant Media, National Geographic Films and Hyde Park Entertainment. email@example.com