Magenta Light Studios, Marenzi & Associates form joint venture

MIPCOM: US film producer Magenta Light Studios (MLS) is launching a joint venture with Marenzi & Associates, the LA-based entertainment consulting firm led by industry veteran Gary Marenzi.

Gary Marenzi

The partnership builds on MLS’s commitment to producing premium entertainment across television and multiple platforms.

Through the venture, Marenzi & Associates and MLS will collaborate to develop, finance, package, produce and distribute television and digital programming.

Marenzi will work directly with MLS CEO Bob Yari and will be exec producer on projects developed through the partnership.

Marenzi was previously president of Paramount Pictures International Television and MGM Worldwide Television, as well as head of TV sales at Endeavor Content (now Fifth Season).

He will help identify and package projects for MLS, working with producers and other creative partners to develop them across scripted and unscripted television and digital formats, in an active role spanning development through distribution.

Marenzi is at Mipcom in Cannes this week, where he will meet producers and creative partners to identify projects that could benefit from MLS’s financing, production and distribution capabilities.

Marenzi & Associates will continue to advise a range of entertainment clients on strategy, coproduction, distribution and valuations. Under the new venture, however, MLS will have first look at new projects generated by the firm for potential development, financing, production and distribution through the partnership. Its current clients include Gaumont, StoryFirst Entertainment, NFN Productions and The Motion Picture Licensing Corporation.

MLS recently wrapped production on the stand-up comedy showcase series Pass Tha’ Mic, presented by Martin Lawrence and hosted by Jo Koy. This was the company’s first television series developed and produced in-house.

Yari said: “Gary brings a rare combination of creative insight and distribution expertise to our studio, as well as a global outreach that is unparalleled from his years of hands-on experience. It’s the perfect fit for the entrepreneurial ethic at Magenta Light Studios.”

Marenzi added: “Bob and I share the same vision for developing and financing commercially attractive projects with franchise potential, and we will be looking to deploy capital with like-minded producers and networks both domestically and internationally.”