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P. M. BRIEFING : Japanese to Invest in U.S. Films

December 18, 1989| From Times Wire Services

TOKYO — Nomura Babcock and Brown, an investment trust owned 80% by Japan's biggest brokerage, Nomura Securities and its group companies, is raising a $25-million fund to invest in American films.

Nomura Babcock and Morgan Creek Productions, a Los Angeles-based film maker, have already set up joint film production in the United States to produce four movies, a Nomura Babcock spokesman said today.

Morgan Creek Film Partners is owned 25% by Nomura Babcock and 75% by Morgan.

Investors in the film trust fund can expect a pretax yield of around 12.5%, the spokesman said.

Morgan Creek Productions was established in 1987. Its films include "Young Guns," "Skin Deep" and "Major League."

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