Rob Reiner’s Castle Rock Revives Film Division With $175M Fund

Rob Reiner‘s Castle Rock Entertainment is relaunching its storied film division with a $175 million film fund that will allow the company to develop, produce and finance movies for a worldwide audience.

The banner has a first-look deal with Warner Bros. for theatrical content, in addition to Warners’ existing deal with Castle Rock for television.

Reiner will continue on as Castle Rock CEO, with Michele Reiner and Matthew George serving as co-presidents.

“I couldn’t be more thrilled,” Rob Reiner said in a statement. “The Castle Rock lighthouse has always signaled a safe harbor for the creative community. With this relaunch, we will be able to continue the tradition of providing an environment for filmmakers to do their best work.”

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Rob Reiner co-founded the company in 1987 with Martin Shafer, Andrew Scheinman, Glenn Padnick and Alan Horn. Castle Rock’s more than 125 films included When Harry Met Sally, A Few Good Men, In the Line of Fire, City Slickers, Miss Congeniality, The American President and The Shawshank Redemption. Castle Rock also produced one of the most successful comedy series in history, Seinfeld.

Matthew George previously collaborated with Reiner on the biopic LBJ and, together with Rob and Michele Reiner, produced Shock and Awe, which George also produced and financed under his Savvy Media Holdings banner. George’s credits also include Wind River starring Jeremy Renner and A Private War starring Rosamund Pike.

Additional Castle Rock hires include Hernan Narea, who joins the company as CFO; Courtney Shepard as senior vp development; Michelle Goldfine, who will be promoted to vp development; and T.J. Bryson as a development executive.

The deal was negotiated by Katten Muchin Rosenman for Castle Rock Entertainment, Latham & Watkins and Cohen Gardner for the private equity investors, and O’Melveny & Myers representing the lender syndicate.

Castle Rock’s film fund is backed by equity investors and entertainment banks. David Oliver of CIT Bank, N.A, which will act as administrative agent, structured the senior debt facility with Daisy Stall of California Bank & Trust.