Prolific indie producer Ed Pressman has fully divested from ContentFilm, the company he co-founded with John Schmidt in 2001. While he left the outfit a year ago, he remained on the board.
The producer's Edward R. Pressman Film Corp. has announced a deal with Syntek Capital with Syntek acquiring both a stake in a new slate of Pressman projects and also Pressman's shares in ContentFilm. Syntek was an initial investor in the company. The announcement today said that Pressman is setting up financing for a slate of 12 - 15 new movies that are budgeted at $35 - $40 million, along with a committment to making lower-budgeted genre movies. In a statement, Pressman noted that he decided to sell his shares in ContentFilm so that he can focus full-time on film production. Since leaving the company a year ago, Pressman has been working on a number of films, including Steven Shainberg's "Fur" and Michael Apted's "Amazing Grace," among others. He is also producing Whit Stillman's "Little Green Men," an adaptation of Christopher Buckley's novel. [Eugene Hernandez]