Multi Oscar winning producer New Regency has entered into a partnership with Los Angeles investment firm Shamrock Capital, who Shamrock Content Strategy is taking a participation in the studio’s 35-year-old plus film and television library.
In addition, a standalone production credit facility was entered into by New Regency’s production arm to borrow in connection with new film, television, and media projects—including building on its past IP to create innovative content, alongside a new credit facility supporting its library. These credit facilities are provided by JPMorgan Chase Bank, N.A.
The partnership with Shamrock relates solely to the New Regency library participation and will not be used to fund the production arm. Also note, Shamrock isn’t taking an equity stake here in the New Regency library, rather it’s a long-term commitment in the studio’s library cash flows.
New Regency’s partnership with Shamrock ensures long-term value and flexibility for the company’s library, which includes Academy Award-winning titles such as The Revenant, Birdman, and 12 Years a Slave. At the same time, New Regency plans to continue its expansion across storytelling platforms including documentary, interactive gaming, live theatre, and publishing. Upcoming feature projects include Blood Meridian, based on the novel by Pulitzer Prize winner Cormac McCarthy, written by Oscar winner John Logan and directed by John Hillcoat, and Watch Dogs, an adaptation of Ubisoft’s best-selling video game franchise starring Tom Blyth and Sophie Wilde. Additional recent and upcoming titles include Steve McQueen’s Blitz (Apple TV+); Focus Features’ The Bikeriders; an untitled Elon Musk documentary from Alex Gibney (HBO); 2073, directed by Academy Award winner Asif Kapadia; and Jimi, a Jimi Hendrix documentary from Emmy nominee Bao Nguyen. On the TV side, New Regency’s slate includes the Emmy-winning Mr. & Mrs. Smith (returning for Season 2 on Prime Video), a Malcolm in the Middle limited series (Disney), Man on Fire (Netflix), and Prime Target, starring Leo Woodall (Apple TV+).
“New Regency has always taken a nimble, creator-first approach to the business,” said New Regency Chairman and CEO, Yariv Milchan, “By aligning with Shamrock, a partner that shares our vision and values, we’re able to position the library as a dynamic asset within the company’s broader content ecosystem strategy — one that will allow the asset to continue to thrive independently while we pursue bold, new creative endeavors.”
“We are thrilled to partner with New Regency’s leadership team as they embark on their next phase of growth through this innovative financing transaction. Our investment philosophy centers on supporting premium and evergreen content, and New Regency’s acclaimed film and television library, which includes iconic titles and award-winning stories, is best in class across the global landscape of independent studios” said Jason Sklar and Patrick Russo, Partners at Shamrock Capital.
J.P. Morgan Securities LLC acted as capital structure advisor to New Regency on the transaction, and JPMorgan Chase Bank, N.A. acted as sole bookrunner on the credit facilities. Latham & Watkins acted as lead legal advisor to New Regency, Sidley Austin acted as legal advisor to Shamrock Capital and DLA Piper acted as legal advisor to the lenders.
Pop star Taylor Swift recently announced that she regained ownership of her master recordings of her first six albums — “Taylor Swift,” “Fearless,” “Speak Now,” “Red,” “1989” and “Reputation” — from Shamrock Capital who had bought from Scooter Braun’s Ithaca Holdings in late 2020. Shamrock reportedly sold Swift’s catalog back to the performance artist for $360M, an amount which the firm originally snapped it up for. Swift wasn’t involved in Shamrock’s original purchase of her catalog. Swift now owns her entire music catalog.
