Two year-old financing company MM Media Capital Partners (MCP) has changed identity, renaming itself Cobalt Media Group in light of its reorganisation as a finance, sales and distribution company. The new name is effective May 1.

Founded in 1999 by NatWest/Coutts Bank's Rodney Payne, Hal Sadoff and Myles Nestel with financial advisors Alton Irby and Richard Milne, MCP last year appointed sales veteran Peter Rogers as head of its international sales and distribution operation and has also now hired former New Line executive Ralpho Borgos as senior vice president, international sales and distribution, and former publicist Peta Browne as vice president, marketing. Both will be based with Rogers at Cobalt's London office.

Borgos was formerly senior vice president, international sales and distribution at New Line International and Fine Line International; Browne is a former director of JAC Publicity.

At Cannes, Cobalt will launch with at least four films:

- Spider based on Patrick McGrath's novel is a psychological thriller from director David Cronenberg and starring Ralph Fiennes.

- Swimfan85 is a high-schooled thriller directed by John Polson (Siam Sunset) and starring Jesse Bradford, Erika Christensen and Shiri Appleby.

- Vacuums is the feature film debut of Stomp creators Luke Cresswell and Steve McNicholas whose short film Brooms was nominated for an Academy Award in 1986. It stars Kip Pardue (Driven), Rose McGowan and Lee Evans. Produced by Verna Harrah and Susan Ruskin and executive produced by Quincy Jones and Joel Simon, the film starts shooting on April 28 on location in Romania.

- Mike Bassett: England Manager is a UK comedy produced by Hallmark Entertainment Film Productions and Entertainment Film Distributors and the Film Council Premiere Fund. Steve Barron (Teenage Mutant Ninja Turtles) directs the tale of hapless football team manager Bassett as played by Ricky Tomlinson. Entertainment will release the film in the UK in the autumn. Barron and Neil Peplow are producers.