In a further expansive move, London-based Protagonist Pictures is teaming with Madrid’s Mogambo, executive producers on “1917,” for a multi-year, multi-title strategic financing and production partnership.

Announced on the cusp of the Cannes Festival, the deal sees the two companies allying to finance, co-produce and sell up to five films a year, Protagonist CEO Dave Bishop and Cco George Hamilton, announced alongside Mogambo founders Ignacio Salazar-Simpson and Ricardo Marco Budé.

They added in a statement that the partnership will focus on jointly green-lighting prestige third party filmmaker-driven titles with budget ranges of 5 million-25 million, as well as strategic co-productions and development.

Negotiated by Mogambo’s legal director Carlos Segovia and Protagonist’s COO James Pugh, Hamilton and Head of Acquisitions Luane Gauer, the alliance is another building brick for both companies as they seek to leverage co-production to create bigger and more ambitious movie productions.

They can also bring...