More film funds from Hyde Park
Hyde Park Entertainment has announced the setting up of a multi-million dollar fund for its asia arm, Hyde Park Asia, a film financing and production company headed by CEO Ashok Amritraj.
Launching in the last quarter of 2008, the fund will provide some S$75 – 100 million of equity and debt for the production of feature films. Acting as a bridge between the film industries of Asia and America, Hyde Park Asia will produce or co-produce three to four films per year, consisting of a mixture of major Hollywood films and cross-cultural titles aimed at a global audience. In this vein, Singapore can expect to see long-term production partnerships with outfits in Japan, Korea and India.
“Singapore is the perfect city to base our new Asian offices. Asia has wonderful talent and facilities, along with great growth potential,” says Amritraj, who has produced Hollywood fare such as Bringing Down The House and Raising Helen.
Dr. Christopher Chia, CEO of the Media Development Authority of Singapore, said: “We welcome Hyde Park Asia to Singapore, whose presence further strengthens Singapore’s position as a media business exchange where New Asia Media projects are created, financed and distributed.” He adds that he expects the production fund to boost Singapore’s status as a global media city and attract more exciting film projects and talent.
Hyde Park already has films shooting in Asia, most notably Street Fighter: The Legend of Chun-Li, a film based on the popular Japanese Street Fighter video game franchise that stars Michael Clark Duncan, Kristen Kreuk and Singapore’s Edmund Chen.
In India, Amritraj already has a three-picture deal with Adlabs Films, the movie arm of India’s most powerful entertainment conglomerate, Reliance Entertainment. Adlabs also may be involved in co-financing films with Hyde Park Asia.
Hyde Park International, the foreign sales arm of the Hyde Park Entertainment Group, headed by sales veteran Lisa Wilson, will handle all foreign territories. Hyde Park Asia will arrange North American distribution for the company’s films.