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Oscar-winning actors and friends Ben Affleck and Matt Damon have founded a new independent production company called Artists Equity, becoming business partners. The company will focus on the creative freedom of directors and other artists.

The company's first project will be Affleck's directorial drama about the contract signed between Nike and basketball legend Michael Jordan. Both actors will be in lead roles in the film. It is not known if it will be released.

Investment company RedBird invested more than $100 million for the project. According to The New York Times, Artists Equity will release three projects in 2023 and five films each following year.

Affleck and Damon gained fame in 1997 thanks to the screenplay of the drama Good Will Hunting. Both of them became the youngest Oscar-winning screenwriters in history.

Photo: Getty Images

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