Magazine article Screen International

Sidney Kimmel Entertainment, Ivanhoe Pictures Form SK Global

Magazine article Screen International

Sidney Kimmel Entertainment, Ivanhoe Pictures Form SK Global

Article excerpt

Backed by what representatives called "substantial equity investment" from China Cultural And Entertainment Fund (CCEF), the parties have merged to create a film and TV producer-financier.

SKE chairman and CEO Sidney Kimmel (main picture) and Ivanhoe Pictures chairman Robert Friedland (middle picture) will serve as co-chairmen of SK Global.

Chairwoman Yang Liu and managing director Alick Dong of China-focused private equity fund and investment management company CCEF will oversee the investment and provide strategic advice to SK Global as the venture seeks to expand throughout Asia.

Dong will join Kimmel, Friedland and Ivanhoe Pictures co-founder and SKE president John Penotti (pictured below Friedland) on the SK Global board alongside Kimmel advisor Matthew Kamens and Ivanhoe Pictures vice-chairman Gary Gartner.

SK Global will control the combined libraries of both companies including all current productions, comprising more than 75 features.

These include Hell Or High Water, The Place Beyond The Pines, The Age Of Adaline, United 93, Adventureland, Lars And The Real Girl, In The Bedroom, Swimfan, A Prairie Home Companion, among others.

Several films in the library are being earmarked as possible local-language film and television remakes.

SKE and Ivanhoe began collaborating on a slate of local-language productions after Penotti introduced Kimmel and Friedland in 2015.

"Our recent collaborations have been immensely successful," said Kimmel and Friedland. "Putting our respective operations under a larger tent has been an organic process. A unified SK Global gives us the strengthened operations and assets to grow our individual and collective businesses, and to expand the scope and creation of our international content.

"Initially, we have focused on the United States and Asian markets, but soon we will announce projects in Europe and Latin America where we are actively developing and financing a diverse slate of film and TV projects that will be the subject of forthcoming announcements.

"Ms. Yang Liu and her team's extensive financial and strategic operations in China and Greater Asia afford our new venture a crucial advantage in building new associations and partnerships throughout Asia. …

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