Subject category:
Finance, Accounting and Control
Published by:
Harvard Business Publishing
Version: 21 November 2006
Length: 12 pages
Data source: Generalised experience
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Abstract
The head of production for Rexford Studios must analyze the terms and value consequences of an international financing involving a German film fund. The financing involves a sale-leaseback structure where international tax rules give rise to a sizeable economic pie that is being divided up between the fund investors, the studio, and the arrangers. To conduct the negotiation, the producer must value the cash flow streams to each of the parties and recognize the nature of the tax arbitrage in the context of his overall financing needs. As a consequence, the major issues involved in film financing and the nature of sale-leaseback transactions driven by tax considerations are explored, as is the competition between countries for film production. Finally, the underlying determinants of opportunities created by international tax rules are valued. To obtain executable spreadsheets (courseware), please contact our customer service department at custserv@hbsp.harvard.edu.
Location:
Industry:
Size:
USD400 million revenues, 100 employees
Other setting(s):
2002
Subject category:
Finance, Accounting and Control
Published by:
Harvard Business Publishing
Version: 15 August 2005
Length: 23 pages
Data source: Generalised experience
Subject category:
Finance, Accounting and Control
Published by:
Harvard Business Publishing
Version: 14 November 2002
Length: 16 pages
About
Abstract
The head of production for Rexford Studios must analyze the terms and value consequences of an international financing involving a German film fund. The financing involves a sale-leaseback structure where international tax rules give rise to a sizeable economic pie that is being divided up between the fund investors, the studio, and the arrangers. To conduct the negotiation, the producer must value the cash flow streams to each of the parties and recognize the nature of the tax arbitrage in the context of his overall financing needs. As a consequence, the major issues involved in film financing and the nature of sale-leaseback transactions driven by tax considerations are explored, as is the competition between countries for film production. Finally, the underlying determinants of opportunities created by international tax rules are valued. To obtain executable spreadsheets (courseware), please contact our customer service department at custserv@hbsp.harvard.edu.
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Location:
Industry:
Size:
USD400 million revenues, 100 employees
Other setting(s):
2002
Related
Subject category:
Finance, Accounting and Control
Published by:
Harvard Business Publishing
Version: 15 August 2005
Length: 23 pages
Data source: Generalised experience
Subject category:
Finance, Accounting and Control
Published by:
Harvard Business Publishing
Version: 14 November 2002
Length: 16 pages