ThinkFilm Sold24 Oct, 2006 By: Erik Gruenwedel
Seeking stronger financial backing, independent film producer ThinkFilm has been sold to producer David Bergstein, who recently acquired Capitol Films, one of Europe's top international film production, financing and sales companies.
Financial terms of the deal were not disclosed.
Five-year-old Toronto-based ThinkFilm has received four Academy Award nominations for best documentary and won with Born Into Brothels in 2005.
Current theatrical films from ThinkFilm include the Ryan Gosling drama Half Nelson; John Cameron Mitchell's Shortbus; the Heath Ledger-Abbie Cornish drama Candy, which opens Nov. 17; and the Morgan Freeman-Paz Vega film 10 Items or Less, which opens Dec. 1.
“Today's transaction will enable ThinkFilm to expand even further and faster, giving us extended resources and opportunities to pursue the films we're known for and beyond,” said Jeff Sackman, president and CEO of ThinkFilm.
Sackman, who continues to oversee daily operations, reports to Bergstein in New York.
ThinkFilm has a deal with Lionsgate for mass merchant DVD distribution.