TVB, US-based Imagine Entertainment form US$100m joint venture to develop programmes for overseas markets
Hollywood film and TV production company brings strong track record and prestige to strengthen Hong Kong broadcaster’s English programming
Television Broadcasts (TVB) is investing US$100 million in a joint venture with Hollywood film production company Imagine Entertainment to finance development of new TV projects for the United States and international markets.
“TVB needs to expand its production base for television programmes as well as its distribution markets,” company chairman Charles Chan Kwok-keung said on Wednesday.
Chan said the alliance will also strengthen the library of English-language programmes under TVB, one of the world’s largest commercial producers of Chinese TV shows.
The broadcaster credited CMC Holdings, an investment company formed by private equity firm China Media Capital (CMC) in 2015, for helping negotiate the deal.
For Imagine Entertainment, the partnership with TVB comes more than year since Shanghai-based CMC bought a minority stake in the US company.