British horror Credo which stars a former Boyzone singer is to be distributed, and Allied Irish Bank help fund a new and rather large Production company.

A new British horror called Credo has been bought for distribution by Moviehouse Entertainment. The film is directed by Toni Harman and stars none other than the former Boyzone singer Stephen Gately as well as Colin Salmon. It is described as a psychological horror about five students squatting in an abandoned building who realise they aren't alone. The story comes from Variety.

Keeping the Irish connection, The Royal Bank of Scotland are not the only British financial institution to hit the film industry as Allied Irish Bank help finance a new film production company called Reliant Pictures which has a first look distribution deal signed with MGM. AIB supplied a US$75 million lending facility which helps Reliant produce six films in somewhere around US$10-15 million a film over three years. The first film slated to start is Penitentiary which MGM will distribute.

According to Variety, Reliant Pictures, and Reliant Pictures International, are owned by Whitsett Hill Entertainment, whose advisory board consist of such names as Smokey Robinson, Porter Bibb, Josh Kramer, Chris Blackwell and Gerry Butler. From the rest of the article it seems that Whitsett Hill are an entertainment company to be reckoned with.