Image Nation Abu Dhabi, China’s CICC Launch $300M Film & TV Fund
The China Intercontinental Communication Center and Image Nation Abu Dhabi have set a new long-term strategic partnership across the film and television industries. The pairing encompasses three core initiatives, including The Culture China – Image Nation Content Fund which will have $300M to invest in commercial film and TV programs from Hollywood, China and other countries worldwide.
The seven-year fund has an initial capital base of $100M, equally committed by Image Nation and CICC, and will seek other China-based partners in return for limited partnership interests. Derek Dauchy will act as an advisor and be based in Los Angeles.
Image Nation has a successful track record of investing in international co-productions with profits going back to subsidize local activities as it aims to build a sustainable industry at home. The company has long-term relationships with such producers as Hyde Park’s Ashok Amritraj and Walter Parkes and Laurie MacDonald of Parkes/MacDonald. CICC is one of China’s earliest international film and television co-production organizations and has collaborated on over 200 hours of international non-fiction programming.
China and the UAE have historically enjoyed a close relationship with the PROC one of the Emirates’ largest trading partners. The partnership between CICC and Image Nation marks a new breakthrough in cultural cooperation between China and the UAE, extending that relationship into the media industry.
Among the other new initiatives between Image Nation and CICC are the Quest Arabiya Programming Strand which sees the partners team on programming in Arabic about the Silk Road regions for Image Nation’s Quest Arabiya channel which is available in 22 countries in the MENA region. The first production is a weekly factual entertainment series titled USILK to air in January 2017. Going forward, the collaboration will expand to include co-produced original content.
CICC and Image Nation are also teaming to train and develop media talent in both the UAE and China.
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