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Wed September 28, 2011
New Mexico Gets Share Of Returns From Film
By KRWG News
New Mexico – SANTA FE, N.M. (KRWG) A government agency says New Mexico has received $394,000 for its share of earnings on a film that got an interest-free loan from the state.
The payment came from the film, "The Book of Eli," which starred Denzel Washington.
State Investment Council spokesman Charles Wollmann said Tuesday the payment was received last week and the state expects to get more money as the film earns revenue from cable television showings and other sales.
The film received a $15 million loan in 2008 and must repay it next year. The loan was the last made by the state for a film shot in New Mexico.
It's the second time the state has shared in profits for films with no-interest loans. The state got $500,000 from the comedy, "Employee of the Month."
Copyright 2011 The Associated Press. KRWG