NEW YORK, Nov. 10, 2016 /PRNewswire/ -- Magna Entertainment, a division of NY-based entrepreneurial investment firm Magna (www.mag.na), has announced the creation of a new $100 million investment vehicle dedicated to creating and financing aspirational and compelling independent content across film, television and music.
Coming on the heels of successfully financing and producing the soon-to-be released and critically acclaimed movie "Bleed For This," starring Miles Teller and Aaron Eckhart and Executive Produced by Martin Scorsese, Magna's 29-year old founder Joshua Sason wants to continue to tell compelling and moving stories that can be impactful to global audiences.
"As a musician I have always been enthralled by the power of artistic expression," noted Magna founder Joshua Sason. He continued "Straddling both the creative and business worlds allows me to approach projects from a different perspective resulting in quality storytelling that is also profitable...the perfect combination."
Structured as a fund vehicle, but acting as an independent producer, Magna Entertainment will look to continue to partner with talented writers, directors, producers and distribution partners. To date, Magna has worked with respected industry names such as Martin Scorsese, Bruce Cohen, Chad Verdi and Emma Tillinger-Koskoff to tell stories that matter. "Bleed For This," which was sold to Open Road Films and is being widely theatrically released November 18th, tells the unparalleled story of determination and triumph by boxing champ Vinny "Paz" Pazienza. It's proven to be both a critical and financial success even before it goes into wide release. Prior to "Bleed For This," Magna had again teamed up with Scorsese on the HBO documentary "The Fifty-Year Argument" and is developing / producing "Man in The Red Bandana," another moving and emotionally captivating tale based on true events.
Although Magna has invested in and produced multiple film projects since launching in 2013, Magna Entertainment operates across platforms. In addition to financing and developing independent content, Magna is a significant investor in PledgeMusic, the leading direct-to-fan e-commerce platform; has just sponsored and IPO'd a $50M media focused SPAC, MI Acquisitions; has incubated several independent recording artists; and recently worked with manager Adina Friedman, Friends At Work, and their client, acclaimed violinist, dancer, performance artist and composer, Lindsey Stirling, on her latest album release, Brave Enough.
For Magna founder Joshua Sason this is all par for the course. The serial entrepreneur with a passion for building and creating, who was once signed to a musical label as part of a rock band in his teens, started Magna at the age of 22 out of his bedroom and has quickly grown it into a leading worldwide investment brand with three divisions, holdings on six continents and offices in New York and Sydney.
Besides being actively involved in each project, Joshua sits on the board of PledgeMusic, tech start-up Mainz and Sason Builders, a New York area construction and luxury design firm. In his "spare" time, Joshua is involved with various philanthropic causes related to music, sports and entrepreneurship including: The Grammy Foundation, Defy Ventures, Mid Island Y JCC and his own Magna Initiative.
For more information: visit www.mag.na
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SOURCE Magna Entertainment