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July 29, 2005
"Remain Calm": catching the Sundance Junebug
Bizreport reports on another source of indie cash: "Maybe it was only a matter of time before they took on Hollywood. Ethan D. Leder and Mark P. Clein... in their 40s, have already sold a financial company for $483 million in cash and created a pharmaceutical distribution firm that was bought for $160 million after a short existence. Now they run United BioSource Corp. , a Bethesda company with more than $150 million in venture backing that is trying to revolutionize the drug testing industry..." They also "financed an independent movie, Junebug, that was a hit at the Sundance Film Festiva , got picked up by Sony Pictures Classics and debuts in New York and Los Angeles next week. The movie was written by Angus MacLachlan, a childhood friend of Clein's. Clein and Leder, along with a New York investor, put up just under $2 million to shoot the quirky family drama... While Clein and Leder say the movie industry is more hobby than profession, they have set up a firm, Remain Calm Pictures, to finance more films."
Posted by at July 29, 2005 02:26 PM
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