Saban and Lionsgate in Asian pay-TV business with Lionsgate
Louise Duffy ©RapidTVNews | 23-12-2011 Saban Capital Group and Lionsgate are joining with Celestial Pictures to launch Asian pay-TV operation Celestial Tiger Entertainment (CTE).
Based in Hong Kong, it will operate as an independent Asian media company, expanding into production and multi-platform distribution in the coming months.
CTE will encompass Celestial Movies, KIX and Thrill as well as Celestial Movies, Celestial Classic Movies and Celestial Movies On Demand. It aims to launch new channels in the future and will also license content from Celestial Pictures. Plus, CTE will also be the exclusive sales agent for all of Lionsgate's content in Southeast Asia and China.
Jon Feltheimer, Lionsgate's co-chairman and CEO, said: "Celestial Tiger Entertainment blends the complementary strengths and skill sets of three companies well positioned to capitalise on opportunities in the Asian filmed entertainment and pay-TV marketplace and allows us to enrich our pipeline of content and extend our distribution footprint throughout the region."
Ross Pollack, CEO of Celestial Pictures, added: "Combining our channel bouquet with Tiger Gate's channel offerings will create a powerful collection of unique brands with distinctive programming specifically catering to Asian market.
"Coupled with the synergies in operations and new content creation for the channels, I am confident that Celestial Tiger Entertainment will create more value for all of the partners involved. We are also pleased to partner with such distinguished and successful companies as Saban Capital Group and Lionsgate."
Adam Chesnoff, president and COO of Saban Capital Group, commented: "Our investment in this new partnership with both Celestial Pictures and Lionsgate further supports our commitment to the media and entertainment space in Asia. We are pleased to expand our relationship with Lionsgate and to create a new strategic alliance with Celestial Pictures. We are very excited about Celestial Tiger Entertainment's prospects to build a leading position in channel distribution, content distribution and content creation across Asia."
Celestial Tiger Entertainment will be headquartered in Hong Kong and will include staff from both Celestial Movies Channels and Tiger Gate.