Paunescu Launches US Production Company

By FNE Staff

    {mosimage}BUCHAREST: Romanian producer/director Bobby Paunescu is launching Solar, an independent production company based in the U.S., which will finance and produce four to five commercial films a year with budgets up to $30 million.

    Starting capital is $50 million. The principal investors in Solar are Păunescu and Jared Underwood, former Comerica Entertainment senior executive (www.comerica.com). Producer Kearie Peak and business affairs and acquisitions expert Christopher Taylor are also involved. Edward Lawson Johnston, founder of the London-based merchant bank LJ Group (www.ljinvestmentgroup.com) is an investor in Solar.

    Some of the productions might be shot in Romania, Păunescu told FNE. Păunescu owns the production company Mandragora Movies in Bucharest, and his American company is expected to involve Romania at least in terms of production facilities. Păunescu also runs the distribution company Mandragora International with offices in Paris and New York.

    After producing Romanian director Nae Caranfil's first English language film Closer to the Moon with Vera Farmiga and Mike Strong (now in postproduction), Paunescu will produce Andrei Ujică's documentary, the Beatles Project (working title) with Mandragora International. He will also shoot his second film as a director, The Ghost/Fantomele, in 2012.