{"id":64333,"date":"2020-12-22T07:13:38","date_gmt":"2020-12-22T03:43:38","guid":{"rendered":"https:\/\/nasimword.ir\/?p=64333"},"modified":"2020-12-22T07:13:38","modified_gmt":"2020-12-22T03:43:38","slug":"russo-brothers-received-close-to-50-million-from-saudi-bank","status":"publish","type":"post","link":"https:\/\/nasimword.ir\/?p=64333&lang=en","title":{"rendered":"Russo Brothers Received Close to $50 Million From Saudi Bank"},"content":{"rendered":"

The Russo brothers, directors of the all-time top grossing film \u201cAvengers: Endgame,\u201d quietly secured a roughly $50 million cash infusion for their production company\u00a0AGBO<\/a>\u00a0from\u00a0Saudi Arabia<\/a>\u00a0earlier this year, multiple sources tell\u00a0Variety<\/em>.<\/p>\n

In a deal brokered and closed at the beginning of the pandemic, the Russos received the investment from an undisclosed Saudi bank in exchange for a minority stake in the brothers\u2019 Los Angeles-based shop. The money is earmarked to help fund development, production and overhead,<\/b>\u00a0two\u00a0people\u00a0familiar with the transaction said.<\/p>\n

The Russos\u00a0count multiple other investors and\u00a0maintain a\u00a0controlling interest in their company, which recently produced\u00a0Chris Hemsworth\u2019s Netflix hit \u201cExtraction\u201d and Tom Holland\u2019s forthcoming \u201cCherry.\u201d<\/p>\n

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Anthony Russo and Joseph Russo photographed at the PMC Studio in Los Angeles for the Variety Playback Podcast.<\/figcaption><\/figure>\n
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Joe and\u00a0Anthony Russo<\/a>\u00a0declined to comment on the matter. One insider said the Saudi money is a one-time cash infusion. Another source said the investment was much higher than $50 million.<\/p>\n

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While the Russos did not draw from any public fund, the Saudi Arabian government has stakes in the kingdom\u2019s banks, though not all are majority holdings. One person with knowledge of the landscape said a bank investment versus cash from the Saudi public funds was \u201ca distinction without a difference.\u201d<\/p>\n

Uproar over Khashoggi\u2019s death created a human rights crisis for the kingdom just as the crown prince embarked on an ambitious effort to modernize the country. AMC Theatres brokered a lucrative deal to build cineplexes. The kingdom, which is hoping to create large-scale live music infrastructures, took a $500 million minority stake in Live Nation. The state granted women permission to drive, all in the hopes of fueling a robust entertainment economy.<\/p>\n

As a result of Khashoggi\u2019s death, Hollywood agency Endeavor returned a $400 million investment to the Saudis. Many premium media corporations including Viacom and Uber dropped out of a 2019 conference set in Saudi Arabia, dubbed \u201cDavos in the Desert,\u201d meant to showcase bin Salman\u2019s efforts.<\/p>\n

AGBO was founded in 2016 by the Russos to deliver artist-led content based on innovative story universes across film, television, and digital platforms. The brothers will begin production in three weeks on \u201cThe Gray Man,\u201d a spy thriller starring Ryan Gosling, Chris Evans and Ana de Armas, set up at Netflix. They\u2019ll then move to producing the Amazon Prime Video original series \u201cCitadel,\u201d and are prepping a sequel to Netflix\u2019s top-rated \u201cExtraction.\u201d On Friday, they announced a new feature with \u201cStranger Things\u201d star Millie Bobbie Brown, set up at Universal.<\/p>\n

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The brothers announced a planned reboot of \u201cThe Thomas Crown Affair\u201d in 2019, with Michael B. Jordan attached to star, though insiders say the project is no longer in active development.<\/p>\n

\u201cAvengers: Endgame\u201d remains their crowning achievement. The fourth installment of Marvel Studios\u2019 superhero extravaganza shattered domestic and global opening weekend records, and went on to gross $2,797,800,564 worldwide.<\/p>\n","protected":false},"excerpt":{"rendered":"

The Russo brothers, directors of the all-time top grossing film \u201cAvengers: Endgame,\u201d quietly secured a roughly $50 million cash infusion for their production company\u00a0AGBO\u00a0from\u00a0Saudi Arabia\u00a0earlier this year, multiple sources tell\u00a0Variety. In a deal brokered and closed at the beginning of the pandemic, the Russos received the investment from an undisclosed Saudi bank in exchange for …<\/p>\n","protected":false},"author":31,"featured_media":64334,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[11185],"tags":[65697],"yoast_head":"\nRusso Brothers Received Close to $50 Million From Saudi Bank - Nasim Word<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/nasimword.ir\/?p=64333&lang=en\" \/>\n<meta property=\"og:locale\" content=\"fa_IR\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Russo Brothers Received Close to $50 Million From Saudi Bank - Nasim Word\" \/>\n<meta property=\"og:description\" content=\"The Russo brothers, directors of the all-time top grossing film \u201cAvengers: Endgame,\u201d quietly secured a roughly $50 million cash infusion for their production company\u00a0AGBO\u00a0from\u00a0Saudi Arabia\u00a0earlier this year, multiple sources tell\u00a0Variety. 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