CAC Group, an insurance broker and advisor, has made a significant announcement regarding the acquisition of Media Guarantors, a prominent player in providing completion guarantees for independent film production. This strategic merger highlights CAC Group’s dedication to strengthening its presence in the entertainment industry and expanding its focus on specialty industries and products.
Media Guarantors, with its team based in Hollywood, brings a wealth of expertise and a solid reputation within the industry. Janet Comenos will be taking on the role of Entertainment Practice Leader at CAC Group, while Fred Milstein, the current President and CEO of Media Guarantors, will continue to lead the company in its new structure. Together, they will work towards integrating and expanding Media Guarantors’ completion guarantee services, which are crucial in the realm of independent film production.
Specializing in completion guarantees for independent film and television projects, Media Guarantors plays a vital role in ensuring that productions are successfully completed from funding to finalization. With a substantial number of films being produced annually, a significant portion of which are outside of major studios, Media Guarantors’ services are essential to the industry’s operations.
According to Mike Rice, the CEO of CAC Group, this acquisition aligns with the company’s overarching strategy to invest in its specialty focus and establish a solid presence in the entertainment insurance sector. With a talented team of experts based in California, CAC Group is well-positioned to make a positive impact in the industry and leverage their exceptional capabilities that are recognized within the entertainment field.
This strategic merger not only signifies a significant milestone for both CAC Group and Media Guarantors but also highlights the continued growth and evolution of the entertainment industry. By joining forces, these two entities are poised to offer enhanced services and support to independent film and television projects, further solidifying their position as key players in the sector.