Variety: Robert Mitchell, April 18, 2017
Len Blavatnik’s Access Entertainment Acquires Stake in RatPac, Variety, 4-18-17
Access Entertainment has acquired a stake in Brett Ratner’s production and film-financing company RatPac Entertainment, Access announced Tuesday. The acquisition will see the company take ownership of RatPac’s film, television and documentary business, in partnership with Ratner, who will remain CEO.
The deal, which is designed to accelerate RatPac’s fast-growing film and television business, saw Access buy out RatPac co-founder James Packer. Variety revealed in February that the Australian businessman was quietly looking to unload his stake the company he helped build.
The move also sees Access, a division of Len Blavatnik’s Access Industries, take a major step into film financing by acquiring a large share of the RatPac-Dune venture that co-finances films for Warner Bros.
“Warner Bros. is one of the great Hollywood studios,” Blavatnik said. “I am delighted to be partnering with Kevin Tsujihara and the studio alongside the unique talent of Brett Ratner. Together we will build on RatPac’s strategic partnership with Warner Bros.”
Access Entertainment President Danny Cohen will serve as co-chairman alongside Ratner, who retains his interest in the company.
“Len and I have shared the same vision and passion for movies, television and music over the years,” said Ratner. “Because of his experience and enthusiasm, RatPac Entertainment will be an even more formidable provider of quality entertainment worldwide.”
Blavatnik launched Access Entertainment in May of last year.
RatPac was founded in 2013 by Ratner and Packer, who partnered with Dune Entertainment on a multi-year co-financing deal with Warner Bros. for up to 75 films. To date, RatPac-Dune has invested in titles such as Alfonso Cuaron’s Oscar-winning “Gravity,” hit horror franchise “The Conjuring,” family hits “The Lego Movie” and “The Lego Batman Movie,” and DC Entertainment titles including “Batman v. Superman: Dawn of Justice” and this year’s upcoming “Wonder Woman” and “Justice League.”