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31 Dec 2010

Hedge Fund Projects: Epic Louis Armstrong Bio

HedgeCo News - Good news for music lovers and art investors, film producers Oley Sassone and Bill Badalato are seeking hedge fund financing for a major motion picture based on the young life of Louis Armstrong, entitled Black & Blue.

Total budget for the project is $18 million. The film will be shot in New Orleans, where a 30% State tax credit is available. Musical bio pics such as Ray, Walk The Line, La vie En Rose, have been extremely successful at the box office (all have grossed over $100 million) and have won Academy Awards.

The investment proposal describes Black & Blue as, “A sometimes poignant, sometimes sad, sometimes humorous but always entertaining story of the young Louis Armstrong as he claws his way through the seamier side of New Orleans from childhood through adolescence to young adulthood on his path to becoming a jazz superstar – an icon in the entertainment industry.”

I’ll know more about the project soon, as Sassone is sending me the details as they develop. I’m a personal fan of both Armstrong and New Orleans, and am excited to play even a small part in the development of the film.