"We are excited to invest in Toast & Jam and provide the resources necessary for Cosmic Toast and Cinipix to create, develop and produce outstanding creative product and content" said Silverman and Grossman in a joint statement.
Folding into Toast & Jam are the five-year-old, full-service animation company, Cosmic Toast Studios, the film finance, acquisitions, production and distribution shingle Cinipix, and the rental production company, Cinirents. Grossman and Silverman are providing financing for the new subsidiaries. Mitchell Silverman will also join the group, bringing significant operational and financial expertise.
The infusion of capital from Silverman and Grossman will be used to grow the development, production, and distribution operations and enable Cinipix and Cosmic Toast Studios to build out its infrastructure. The two sister companies will continue their strategy of committing capital and resources to top filmmakers to enable them to produce commercial films that are competitive in the global market. The major financial investment made by Silverman and Grossman will also enhance the company's ability to identify strategic acquisition opportunities, including those in the digital distribution space.
To guide the new venture, Grossman, Silverman and the current partners have appointed veteran entertainment executives Todd Slater and Deb Pierson to serve as CEOs of Cinipix and Cosmic Toast Studios, respectively. Both will assume their CEO posts immediately.
Under the stewardship of Slater, Cinipix will produce and fund multiple films per year as well as acquire and partner with third party producers offering post production, equity, and sales partnerships. Current Cinipix projects include the recently finished thriller/action films "Raze" (Rachel Nichols, Zoe Bell), the upcoming action film "The Devil's Ink" as well as the action pic "McCanick", true-life story "It's Dark Here" and comedy "Gangbusters". The company will also act as the distribution/sales arm for CTS content.
Led by Deb Pierson, Burbank based Cosmic Toast Studios ("CTS") operates as a full-service animation studio capable in all aspects of pre-production, production, and post-production, with the unique advantage of housing a fully equipped facility and staff all under one roof. CTS generates a wealth of original intellectual property and is now aggressively marketing this content to distributors, including major television and motion picture studios, television networks, internet portals, and leading Hollywood producers. Some of its initial success in this area includes having one of its properties, the Telly award winning "Hey Wordy!" currently airing on a PBS affiliate and on an overseas network reaching 175 countries.
In a joint statement Slater and Pierson said, "We have been good friends for a long time and are thrilled to take on this exciting new endeavor together. With the financial recourses of Neil and Howard, we have the ability to expand into of the most multifaceted studios and production companies in Hollywood. The partners at Toast & Jam offer us an incredible opportunity to work creatively and collaboratively to build something very special."