From the man who brought you Rexall pharmacies and the Edmonton Oilers comes a new business venture.

Oilers' owner Daryl Katz is segueing into the motion picture biz and Edmonton's arena district is set to benefit.

Producer Joel Silver has partnered with billionaire Katz, owner of the Rexall pharma chain, to create Silver Pictures Entertainment.

The company "will develop, produce and provide or arrange financing for its own slate of feature films, television and digital projects, both independent of and within the traditional studio system," states a press release from the Oilers Entertainment Group (OEG).

Newly-minted chief executive officer of the Oilers Entertainment Group Bob Nicholson says the move is exciting for the city.

"This is something we've been working on for over a year and the timing is right now for the announcement," Nicholson said.

The Oilers' new home, Rogers Place arena, is set to open in 2017 and is central to the Edmonton Arena District, a $2.5-billion mixed used real estate development being led by Katz Group. As part of the new relationship, Silver Pictures will take an active role in helping to enhance and expand OEG's entertainment platform.

"Daryl Katz is an entrepreneur in the truest sense of the word. I've watched him build brands, sports teams and multi-billion dollar businesses with vision and drive, and that's someone I want by my side," said Silver.

"Daryl's expressed interest is to enhance his sport and entertainment division with significant entertainment properties and it's really exciting for me to be with him on that journey."

Silver Pictures Entertainment will continue its relationship with Warner Bros., with active projects including a sequel to its $103-million box office hit Project X, and a third instalment of the Robert Downey Jr, Jude Law franchise Sherlock Holmes. Additional titles under the arrangement include: Logan's Run, Ben 10 and Ross Macdonald's The Galton Case.

Silver has produced over 70 films, including The Matrix trilogy, four-part Lethal Weapon series and several Die Hard and Predator films. Silver Pictures' most recent hit at the box office was the Liam Neeson-Julianne Moore action-thriller Non-Stop.

"Joel Silver has an incredible track record and relationships across the entertainment industry," said Katz.

"For almost four decades he's been creating film franchises, breaking box office records and entertaining moviegoers... Silver Pictures is an important part of the vision and breadth of our growing sports and entertainment business."

He said there's huge potential in cross promotion, but they haven't dug into specifics.

When asked if there would be a Mighty Ducks style movie for the Oilers, Nicholson laughed and said he didn't think they'd be going down that path.

Previously, Alberta and Edmonton had been poised to be a film-making centre, but cutbacks in grants pushed filmmakers to Vancouver and Montreal.

"What this will do for the city, it's premature to say," Nicholson said. "As you build partnerships, it builds opportunity."

Currently, it is a private partnership, with no government input planned.

catherine.griwkowsky@sunmedia.ca

@SunGriwkowskyC