Tower Heist and Red Dragon director Brett Ratner has told The Hollywood Reporter he's teaming up with Australian business mogul James Packer to make movies.

Ratner told the industry magazine in a statement that the Crown Limited chairman is backing the company, to be called RatPac Entertainment.

He says the company will develop, produce and finance films on its own and in partnership with Hollywood studios.

'We intend to build a major independent film company which not only has the ability to fully finance its films but which also offers creative independence for its filmmakers,' Ratner says in the statement.

At present Ratner is producing Hong Kong Phooey, set to star Eddie Murphy, and is to direct Dwayne 'The Rock' Johnson in Hercules: The Thracian Wars, scheduled for release in 2014.