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RWMI Secures Financing for First Feature Film, Expands Executive Management Team
RegalWorks Media, an independent multimedia studio focused on feature film production, reports that it has closed on its financing for Jake’s Run, the company’s first feature film production, based on the true-life events of ESPN ESPY Award winner Jake Porter. The company has also added two key members to its executive management team.
“Jake’s Run” will follow RegalWorks’ model of producing high-quality films at a reasonable budget and maximizing the cash flows through multiple revenue sources. Casting is underway in preparation to commence production in April 2014. Studio distribution for the film is in process and expected to be secured by the end of February 2014.
RegalWorks appointed Ken Herfurth to its leadership team, where he will serve as vice president of business development, contributing his more than 20 years of management and leadership expertise, including seven years with a Fortune 100 company. Herfurth’s primary focus has been on identifying potential acquisitions and conducting due diligence. After serving in this capacity as a consultant for five months, he surfaced several potential acquisitions and has been brought on the team to help close one or more of these transactions in the first quarter.
Bill Friday, CFA, was also appointed to RegalWorks’ leadership team where he will serve as vice president of finance and operations to lead the company’s various financing efforts as the company seeks to complete the financing for its first three films and several acquisitions targeted to close in the first quarter. Friday has more than 25 years of successful experience in international banking and finance with stints at both Wachovia Bank and Grosvenor Park Media that included work in film and entertainment. He has previously arranged or co-arranged on more than $40 billion in syndicated facilities. Friday has been serving as a consultant for the past six months, supporting RegalWorks CFO Marcia Allen in various corporate finance matters. His primary focus has been on raising capital for the company’s films, film funds, and acquisitions.
“We are excited with our progress in getting the financing for our first film completed, having two more nearing completion, and lining up several strategic acquisitions in a relatively short amount of time,” RegalWorks chairman and CEO Dane West stated in the news release. “Having Mr. Herfurth and Mr. Friday now as officers of the Company will provide the kind of expertise and concentrated focus it will take to seize these various opportunities in an accelerated timeframe.”
For more information, visit www.regalworks.com
