Director Marcos Siega, producer Matthew Weaver and financier CarlLevin have announced the launch LA-based film and television company ProspectPictures.

The company will be led by partners Siega, who directed theupcoming action comedy The Underclassman for Miramax, Weaver, who produced the Miramax comedy MyBaby's Daddy which opensin the US this week, and Levin.

Prospect formed in late 2003and is backed by a private group of Wall Street Investors. The three principalsare actively putting together a production slate and will also use the fund foracquisitions.

The principals have hired former Immortal Entertainment head ofdevelopment Jason Barhydt to perform the same role for Prospect and arepreparing to go into production on their first feature Pretty Persuasion, which Siega will direct and is set tostar Evan Rachel Wood, Christina Applegate and James Woods.

Weaver has brought a number of projects to the table, including Cops& Robbers, which isset up at Disney with Mike Mitchell to direct, The Little Drummer Boy, set up at Disney, and UntitledDisney Musical, to beproduced with Kelly MacManus. Weaver will produce these projects with HappyWalters.

Weaver also brings with him The Harlem Globetrotters Story, set up at Columbia with Penny Marshallattached to direct, as well as a script from Anthony Zuiker, creator of the hittelevision series CSI.

"Prospect is an opportunity for me to build a company where I amsurrounded by great people who share my creative and commercial sensibilities,"Siega said in a statement.

"Marcos is not only a great director but a true friend, andstarting our own company together was an opportunity of a lifetime," Weaveradded.

"Coming from abusiness background I know the importance of having a fully funded operatingplan and we are ecstatic about the strong support we have received from ourfinancial partners," stated Levin.

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