Film Finances, part of the STX Entertainment family, is merging with Media Guarantors to create one of the world's leading completion bond firms for independent film, a niche market with only a handful of major players. STX sister company Film Services International is acquiring Media Guarantors from insurance brokerage CAC Group for an undisclosed sum, consolidating two established names in a business that underpins financing for many independent productions.

Under the new structure, Media Guarantors founder Fred Milstein becomes chief executive of the combined bond company, while Film Finances executive Steve Berman takes the president role, and Film Finances president Greg Trattner moves up to executive chairman across the wider group, all reporting to Film Services International group CEO Peter Coleman. Completion bonds guarantee that a film will be finished on time and on budget, protecting investors, banks and distributors, with the bond firm liable for cost overruns if problems arise. The deal follows Film Finances' 2024 restructuring away from troubled former owner 777 Partners and its integration into the relaunched STX under backer A-CAP, while CAC Group's sale of Media Guarantors comes after its own merger with rival broker Baldwin Group earlier this year.