Medient Studios, Inc., has announced it has entered into a joint venture with Tarantella Pictures. Under the terms of the agreement, the two companies will jointly develop, finance, produce and distribute content for the Chinese and other Far East Asian markets, as part of the Medient’s strategy to create a content and distribution pipeline for diversified audiences worldwide.
Based in Kuala Lumpur, Tarantella Pictures is the leading production house in Malaysia, producing films such as Lagenda Budak Setan and Ombak Rindu. Ombak Rindu is the third-highest box office grosser in Malaysia’s history.
The company has produced more than 70,000 minutes of programming. Out of the 38 television shows the company produced, 30 were listed on the top 10 list of Indonesian television.
Several films from the region have broken out to be box office smash hits in the USA including last year’s “Raid Redemption” and Ang Lee’s “Crouching Tiger Hidden Dragon” which did $128 million in U.S. domestic revenue.
Manu Kumaran, chairman of the board of Medient Studios, said:
“Approximately 60 percent of the world’s population lives in Asia. We see a comprehensive presence in Asia as a cornerstone of our strategy for the future. This relationship will leverage our existing strength in the Indian market and create a viable pan Asian platform.
“Tarantella’s founder Sharad Sharan’s keen understanding of the Far Eastern market is the fundamental reason of this JV. Over the last 20 years Tarantella has built a formidable reputation in the region and we are excited by the possibilities. Medient continues its journey to build a truly global entertainment enterprise.”
For more information on Tarantella Pictures, visit www.tarantellapictures.com.