One of Mark Gill's most notable successes back when he ran Warner Independent Pictures, the specialty-film division he helped launch in 2003, was acquiring a little documentary called March of the Penguins at the 2005 Sundance Film Festival. That film went on to win an Oscar for best doc and earn an astounding $129.4 million at the worldwide box office. Gill, known as a headstrong individual, reportedly had communication issues with Warner Bros. production president Jeff Rabinov, who oversaw the indie label, and exited WIP in May 2006.

But Gill's about to re-establish himself as a force in the film world with the unveiling of the Film Department, an indie financing, production, and sales outfit that he's launching with former Yari Film Group COO and Miramax vet Neil Sacker (Gill also spent eight years at Miramax, and was president there). Their company has $200 million in initial capital (with G.E. leading the financing) and plans to make six movies annually with budgets between $10 million and $35 million. Here's the release:

THE FILM DEPARTMENT RAISES $200 MILLION Mark Gill, Neil Sacker head new independent film finance, production and international sales company

Firm to produce 6 films per year between $10 and $35 million for $725 million in production value in first five years

G.E. leads financing as administrative agent and sole arranger

LOS ANGELES (June 27, 2007)--The Film Department, a new independent movie finance, production and international sales company--founded by former Warner Independent and Miramax Films president Mark Gill and former Miramax executive vice president and Yari Film Group COO Neil Sacker--has raised $200 million and will begin operations in the next two weeks.

The Film Department plans to produce six films per year budgeted between $10 and $35 million. In its first five years, total production value is expected to reach $725 million. The company will fully finance its films and license them to domestic and international distributors through an in-house sales unit. It plans to make star-driven, commercial pictures at the high end of every genre that appeal to a worldwide audience (notably thrillers, dramas, comedies, romantic comedies, action and horror films).

Allen & Company, Loeb & Loeb, and The Salter Group played key roles in advising the company and completing the financing. As administrative agent, G.E. Commercial Finance's Media, Communications & Entertainment business underwrote the company's senior debt and mezzanine financing, while GE Capital Markets acted as sole lead arranger.

The Film Department's equity investors include: Sheikh Waleed Al Ibrahim, Zeid Masri of SilverHaze Partners, Michael Singer, GE, CRG Movie Partners, Mark Esses, David Larcher, Michael Goguen, Richard Landry, Michael Reilly and Rafael Fogel.

Gill is CEO of The Film Department, and Sacker is President & Chief Operating Officer, but the two are running the company as a partnership. They first worked together at Miramax in 1995. The company will have 38 employees and will be based in West Hollywood.

In the last seven years, films that Gill and Sacker shepherded have earned more than $1 billion at the worldwide box office. They include "Crash," "Amelie," "March of the Penguins," "The Talented Mr. Ripley," "Hostage," "The Illusionist," "Prime," "Frida," "Under the Tuscan Sun," "Good Night, and Good Luck," "In the Bedroom," "The Quiet American" and "City of God." On average, their films cost $17 million to produce and grossed $77 million at the worldwide box office. The films they helped make have been nominated for 43 Academy Awards and have won six, including Best Picture.

"We believe that the principals of The Film Department are unusually qualified to execute their plan with high creative standards--as evidenced by their spectacular successes," said Scott Webster, Managing Director of GE's Media, Communications & Entertainment business. "We're pleased to be their financier and embark on a great relationship."

Said Gill: "There's a perfect storm of favorable conditions for our new business: strong international demand for star-driven, lower-cost, high-quality films; a decrease in North American studio in-house production combined with a substantial increase in distribution capacity; and greater star willingness than ever before to make independent films."

Sacker said: "The Film Department is set up to achieve the best aspects of independent film--maintaining high creative standards and an ability to greenlight pictures quickly--while avoiding its most common pitfall: inadequate capitalization. Our $200 million financing insures that we will always be able to move quickly, honor our commitments and pay on time."

The Film Department's board of directors includes: Gill; Sacker; Sheikh Waleed Al Ibrahim, Chairman of MBC Group; Zeid Masri; Michael Singer and John Josephson, a Managing Director of Allen & Company. GE will have a board observer seat.

Going forward, Allen & Company will assist the company in identifying and establishing financial, corporate and strategic partnerships designed to maximize the company's opportunities for growth.

The Film Department received substantial assistance in this transaction from Allen's John Josephson and Omar Isani; Gibson Dunn & Crutcher's Lawrence J. Ulman and Cromwell Montgomery; Loeb & Loeb's Mickey Mayerson, Susan Williams, and Allan Duboff; MBC's Sam Barnett, Stephanie Holden, Muhammed Rashed and John Whitehead; The Salter Group's Roy Salter, Patrick Russo, and Eric Briggs; Michael Singer; Mike Witherill and Alex Witherill.

Gill was most recently the founder and President of Warner Independent Pictures. The studio earned $100 million at the North American box office faster than any company in movie history (by year two, driven by "March of the Penguins" and "Good Night, And Good Luck"). Previously, Gill was President of Miramax Films/LA, where his eight-year tenure included five years in production and acquisitions, and an initial three years as head of marketing. Prior to Miramax, Gill spent six years in the marketing department at Columbia/Tri-Star Pictures, lastly as senior vice president. He began his career as a reporter for the Los Angeles Times and Newsweek. Gill is a graduate of the University of Southern California, and he lectures frequently at Harvard University.

For the four years prior to joining The Film Department, Sacker was Chief Operating Officer of Yari Film Group, where he was responsible for all of the company's business and legal affairs, finance and operations, and was a critical player in formulating its successful business strategy, in making greenlight decisions (among them on "Crash" and "The Illusionist"), and in building the company from inception. In his three years at Miramax, he was the head of business and legal affairs. Prior to joining Miramax, he served as theatrical counsel and then senior theatrical counsel at Warner Bros. Pictures for four years. He is a graduate of Cornell University and Yale Law School.