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| Friday, 14 May 2010, 21:06 HKT/SGT | |
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CANNES, FRANCE, May 14, 2010 - (ACN Newswire) - The Media Development Authority of Singapore (MDA) and Tiger Gate Entertainment, a joint venture by Lionsgate and Saban Capital Group, have entered into a strategic partnership to commission a slate of multiplatform projects in the action, horror and thriller genres for markets worldwide over the next four years. This initiative marks the latest push to promote greater coproductions involving Singapore and international partners, and comes on top of the US$1.1 billion private funds available in Singapore.
The MDA-Tiger Gate partnership will seed the production of genre film projects, with a focus on action, horror and thriller genres for theatrical and television distribution in Asia as well as outside of the region. Projects will be jointly selected by Tiger Gate and MDA for co-investment, to be co-produced by successful applicants with their respective partners. Tiger Gate will represent all selected projects across all platforms - including theatrical -- within Asia, while Lionsgate will manage all distribution outside Asia. Lionsgate is one of the most commercially successful independent film and television distribution companies in North America, whose recent theatrical releases include the 2009 Academy Award-winning film Precious: Based on the Novel "Push" by Sapphire and action comedy superhero film, Kick-Ass starring Nicolas Cage.
"The addition of the MDA-Tiger Gate initiative to our existing pool of funds translates immediately to greater opportunities for Singapore filmmakers. Through the alliance, green-lit projects will have access to Lionsgate's extensive global distribution networks, providing Singapore filmmakers with a greater impetus to co-produce internationally marketable projects peppered with Asian sensitivities that resonate with the global audience. To this end, MDA will continue to anchor such international media funds in Singapore to catalyze new growth in Singapore's media sector," said Dr Christopher Chia, Chief Executive Officer of MDA.
By partnering with the MDA, Tiger Gate, with its current Thrill and KIX channels, aims to enhance its feature film and television programming and implement its strategy of looking beyond just 'linear' TV towards next-generation media distribution and innovative revenue generation.
Commenting on the partnership, Mr William Pfeiffer, Chief Executive Officer of Tiger Gate said: "There is significant synergy between MDA and Tiger Gate, and we believe the partnership will prove to be a win-win situation for all parties involved. We are delighted to be working with MDA to bring to the world, as well as to Tiger Gate's own channels KIX and Thrill, original films from Asia in the genres for which Asian productions are most renowned: action, thriller, and horror."
The MDA-Tiger Gate partnership is the latest international fund initiative following the US$75 million MDA-Hyde Park-Imagenation alliance announced last October. Other private funds available to the industry include a US$20 million Production Fund by Singapore's Infinite Frameworks and a US$70 million (S$100million) Integrated Media Fund by Salon Media Management, a Singapore-based subsidiary of the Salon Film Group in Hong Kong.
Contact:
Mala Devi (Ms)
Assistant Manager, Communications
Media Development Authority
Tel.: +65 9728 9872
Email: mala_devi_padmanathan@mda.gov.sg
Phoebe Seow (Ms)
Deputy Director, Communications
Media Development Authority
Tel.: +65 9726 3150
Email: phoebe_seow@mda.gov.sg
Topic: Business Tieup
Sectors: Film & Video, Media & Marketing, IT Individual, Broadcast, Film & Sat
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From the Asia Corporate News Network
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