Alcon Entertainment, the independent film production company backed by FedEx Corp. founder Frederick Smith, is in talks to refinance about $200 million of loans, people with knowledge of the matter said.
The company, which produced “Transcendence” and “The Blind Side,” is seeking funding for films in production, said the people, who asked not to be identified because the matter is private. JPMorgan Chase & Co. is leading the process, they said. The negotiations are expected to conclude soon, one of the people said.
Alcon, run by Broderick Johnson and Andrew Kosove, is co-producing a remake of “Point Break” with Time Warner Inc.’s Warner Bros. that’s due for release in December, and is working on a sequel to the 1982 classic “Blade Runner.” The company’s films are primarily distributed through Warner Bros. under a long-term deal.
The Los Angeles-based company’s 2014 films were box-office disappointments. “Transcendence,” the Johnny Depp sci-fi movie, cost $100 million to produce, according to researcher Box Office Mojo, and generated $103 million in ticket sales worldwide, a sum that’s split with theaters.
“Dolphin Tale 2,” made for $36 million, delivered $52 million in theaters. It ultimately was profitable, according to a spokesman for Alcon, who declined to comment on the fundraising.
Alcon, named after an archer and companion of Hercules in Greek mythology, controls a 20-film library that has generated $2 billion in revenue since the company was founded in January 1997, according to its website. It was a co-producer of “The Blind Side,” starring Sandra Bullock, who won the Oscar for best actress for her role in the 2009 feature.
Alcon has also expanded into television, talent management and music. Suzanne Alexander, a JPMorgan spokeswoman, declined to comment.