Veteran film executive Paul Hanson has partnered with Media Content Capital to launch Covert Media , a new feature production, financing and distribution company based in Los Angeles. Hanson, formerly COO of QED International and, later, of Annapurna Pictures, will serve as CEO. Covert Media will kick off with an initial mandate to make three to four films a year, budgeted at $10 million-$50 million.
- Over time, the company plans to expand into broader budgets sizes and into other mediums including episodic content for television or streaming.
- Covert Media also will service and support the library, and upcoming projects, for MCC-owned QED.
- MCC, the global media fund led by financiers Sasha Shapiro and Anton Lessine, has committed to fully financing the new venture, adding it to its growing portfolio of film, TV and digital media assets that include QED (Shapiro also worked for 14 years as a senior international executive at Warner Bros.).