Imagenation Abu Dhabi and Ashok Amritraj’s Hyde Park Entertainment Group have extended their partnership to create a strategic alliance with Singapore’s Media Development Authority (MDA).
Under the deal, Imagenation Abu Dhabi and Hyde Park will fund three to four films a year worth an estimated $75m over the next five years. Hyde Park International president Mimi Steinbauer will handle foreign sales.
The venture will kick off with an English-language cross-cultural production to be announced in the coming weeks. Hyde Park executive vice-president Patrick Aiello will supervise creative affairs and Imagenation Abu Dhabi COO Stefan Brunner will oversee business affairs.
The entity will shortly open an office in Singapore to serve as the Asian headquarters and will put a management team in place.
“Abu Dhabi and Singapore are collaborating on multiple levels, both political and economic,” Imagenation Abu Dhabi chairman H.E. Mohamed Khalaf Al Mazrouei said. “This new venture solidifies our ties and commitment to the region.”
“Hyde Park and Imagenation’s activities in Hollywood and throughout Asia are further strengthened by this new relationship with Singapore,” Amritraj said. “We look forward to working closely with the MDA and being a leading force in the global media growth in Asia.”
Imagenation Abu Dhabi CEO Edward Borgerding added: “Our continued relationship with Hyde Park and new partnership with Singapore’s MDA truly embodies our ethos of focusing on global cinema and establishing strong alliances to create quality commercial feature films. This deal brings us one step closer to achieving that goal.”
MDA CEO Dr Christopher Chia added: “Connecting partners from three different continents to produce international films through an Asian headquarters in Singapore, the Hyde Park-Imagenation-MDA alliance is the latest transnational industry collaboration that fulfils Singapore’s promise as a trusted global capital for media businesses.
“Through this new venture, we hope to see stronger ties between media companies and professionals from the Middle East, United States and Singapore as they collaborate to create compelling content for audiences worldwide.”
Imagenation Abu Dhabi and Hyde Park Entertainment first partnered in November 2008 on a $250m financing deal to develop, produce and distribute up to 20 feature films over seven years, with additional financing for the production of local language and cross-cultural films.
Their partnership with MDA follows Hyde Park’s 2008 announcement of its plans to set up a multi-million dollar fund based in Singapore.