Timothy Linh Bui, Stephane Gauger, Ham Tran and Wyn Tran's newly launched distributor Wave Releasing targeting Vietnamese-American and discerning independent audiences and will roll out its maiden title Owl And The Sparrow on January 16.

The Vietnamese-American partners have worked in various capacities on each other's projects and were inspired to launch the company when Alejandro Gonzalez Inarritu, Alfonso Cuaron and Guillermo del Toro launched cha cha cha.

Owl And The Sparrow, which won the audience award at the 2007 Los Angeles Film Festival, will open in limited theatres in Los Angeles, Irvine and Westminster before rolling out to San Francisco, San Jose, Houston, Chicago, and other cities in the coming weeks.

The film takes place in Saigon where a ten-year-old orphan plays matchmaker to a zookeeper and a beautiful flight attendant.

'We're at a crossroads point in indie filmmaking and this was our way of helping to ensure that we're on the correct side as the paradigm shift occurs,' Wave Releasing's CEO and co-founder Bui said. 'Starting the company was our response to the digital revolution and a way for us to reclaim a strong film and storytelling legacy.'

'What's great about our company is that we all know and like each other and we end up working on each other's films, so the move to join together and distribute our films was very much a natural one,' Gauger added.