Spanish content producer and packager Media Park has initiated talks with "various American and European majors" to find a new international shareholder before the end of the year.
Sources at Media Park say the talks form part of a two-fold strategy to collaborate with majors on TV channels for the Spanish market, and further the company's international standing. The move is expected to be followed in early 2001 by Media Park's IPO.
Although the sources would not point to any specific companies, Media Park currently maintains agreements with, among others, Paramount, Showtime Networks (via jointly-produced channel Showtime Extreme) and Universal Pictures Spain. The company took a new step this year when it entered Universal Spain's first feature film, Kilometer O, as a 5% associate producer, taking pay-TV rights. The output agreement with Paramount encompasses a commitment, not yet realised, to co-produce TV movies.
The addition of a new shareholder at Media Park will reportedly entail an amplification of capital. Telefonica Media's June acquisition of 25% of the company's shares for a reported $60m helped skyrocket Media Park's worth to Euros99.9m.
The capital growth and IPO will help Media Park carry out its plans for expansion, which include further feature film production. Media Park co-produced its first feature film this year with Aitana Sanchez-Gijon starrer Mi Dulce, now in post-production. The company also plans to get involved in more feature films as an associate producer, and recently signed an agreement with Canal Plus to associate produce short films backed by the pay outlet.