Chapman University, a private nonprofit institution in Orange, Calif., has announced plans to create a for-profit film production company to bolster its academic reputation and help launch alumni careers, The Los Angeles Times reported.
Chapman Entertainment, which will be run by the university’s Dodge College of Film and Media Arts, will make and distribute five to 10 feature films per year.
The venture, which officials claim is the first of its kind, will finance films with budgets from $250,000 to $625,000, with priority given to Chapman alumni although anyone may work there, the Times reported.