SRM Entertainment and Suretone Entertainment’s Suretone Pictures are in negotiations to partner. The plan is to leverage Suretone Pictures’ strengths in film production, television content production and existing library and distribution, along with SRM’s merchandise, manufacturing and distribution business, to grow as a content provider. SRM and Suretone Entertainment’s Suretone Pictures are in extensive discussions to jointly launch a new media company using certain assets of Suretone Pictures. Together, the companies plan to build a multi-film asset and IP-based library and expand into distribution, merchandising and production.
The goal is to integrate Suretone Pictures’ assets into SRM next year, subject to regulatory approvals and other customary closing conditions. Jordan Sure, president of Suretone Pictures, will initially join SRM in an advisory role and will guide the venture while overseeing various film production efforts as well as lead the company’s film acquisitions and related merchandising efforts with Suretone Pictures’ film and television industry partners.
SRM and Suretone Entertainment recently signed a first-of-its-kind media agreement under which SRM will acquire certain of Suretone Pictures’ film assets. These will become part of SRM’s media library, allowing SRM to own and leverage merchandising, licensing fees and revenues from the initial film assets. Both companies view this transaction as the first phase of a larger overall transaction.
“We are excited to announce Suretone Pictures’ new endeavor with SRM,” said Schur, founder and chairman of Suretone Entertainment. The former Geffen Records president and Flip Records founder is also co-founder of producer and co-financier Mimran Sure Pictures. “Our companies have strong synergies in our current capabilities that complement the overall goal of our joint operating plan to better compete in the current environment,” Schur said. “We look forward to working with Rich Miller and the SRM team on our co-managed IP to bring highly sought-after film, television and physical merchandise to the underserved independent global film and television market.”
SRM CEO Rich Miller said, “We are excited to welcome Jordan Sure and Suretone Pictures to SRM. Our goal is to jointly expand our disruptive film, television and media company with ongoing production operations and build a library of film and television assets to combine with other valuable IP we plan to jointly acquire. We believe we will gain a competitive advantage with our plan to develop and deliver a variety of entertainment content and physical merchandise direct to consumers through various distribution channels, including online, theatrical, VOD and streaming. We also intend to appropriately leverage various merchandising rights rooted in media rights to create multiple new channels for the distribution of our products to enhance value for our shareholders.”
Suretone’s upcoming projects include “Do Not Enter,” which he is co-financing with Lionsgate and is based on the novel “Creepers” by Rimbaud author David Morrell. Suretone is also developing the romantic comedy “Revenge Wedding” with Lionsgate, which is due to shoot next year, and the action thriller “Five Against a Bullet,” which he is aiming to start production in 2025.