James Packer, with wife
Erica, has formed RatPac Entertainment with director Brett Ratner. Source: Supplied
Rod Chester, The Daily Telegraph, reports
Media mogul James Packer is putting the Ratpac back into Hollywood.
A spokesman for Mr Packer has confirmed the Australian billionaire has teamed up with controversial producer-director Brett Ratner in "a small private investment'' to form RatPac Entertainment.
Mr Ratner came under intense scrutiny late last year for his homophobic statement that "rehearsing is for fags'', stepping down from his role as producer of the Oscars in the furore that followed.
Ratner told the Hollywood Reporter that RatPac already had two projects in the works that would be co-financed.
"We intend to build a major independent film company that not only has the ability to fully finance its films but which also offers creative independence for its filmmakers," Mr Ratner said in statement.
Ratner is currently producing Horrible Bosses 2 and this week has been in Eastern Europe scouting locations for the 2014 action flick Hercules, starring Dwayne Johnson as the half-man, half-god.
Eddie Murphy, a close friend of Ratner and star of the director's 2011 box office disappointment Tower Heist, stood down as host of this year's Oscars in a show of support.
The RatPac partnership is a return to Hollywood for Mr Packer, who sold his share in New Regency Productions in 2008 for a reported $US324 million.
Television baron Kerry Packer, James's father, invested in New Regency in the early 90s.
James's uncle Clyde, who
moved to California in 1976 after a falling out with his father, also had
various Hollywood investments.
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