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European banks back films, but $ scarce due to real estate.

European Banks Back Films, But $$ Scarce Due to Real Estate

While European banks are still quite willing to back film production, and don't shy away from accepting foreign pre-sales as collateral, a confused concept is increasingly creating problems, says Jonathan Olsberg, Managing Director of Britain's Glinwood Films.

"The reason that European banks, are tightening up is that they usually lump films and real estate in the same division," Olsberg said. "Real estate is in trouble all over the world, and that problem has affected the banks' attitude." Olsberg affirmed the European banks' willingness to back production and said that, in addition to the banks which traditionally lend money for production, new banking institutions were actually entering the field.
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Title Annotation:AFM Roundup
Publication:Video Age International
Date:Mar 1, 1991
Words:118
Previous Article:It's a costly playground, but Cannes remains a favorite.
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