NEWS!!! Televisa + Lionsgate = Pantelion (Hispanic-Targeted Movie Venture)
Mexico’s Grupo Televisa has partnered with independent film studio Lionsgate to launch Pantelion, a Latino-focused venture scheduled to release eight to 10 films per year targeting the fast-growing Hispanic movie-going crowd.
The new venture will be led by CEO Paul Presburger and chairman Jim McNamara, who is also chairman of the premium movie channel Cine Latino. Terms were not disclosed.
The concept behind Pantelion, announced at a Tuesday (Sept. 26) press conference here by Lionsgate co-chairman and CEO Jon Feltheimer and Grupo Televisa chairman and CEO Emilio Azcarraga, is simple: To reach the estimated 26 million U.S. Hispanics who represent more than 25% of frequent movie-goers and are considered the fastest-growing segment of U.S. film watchers.
Although it is not a novel idea (other studios have been created for this purpose), Pantelion’s advantage lies in the marketing and distribution muscle expected behind each theatrical release. In addition of using the marketing prowess of Lionsgate, the venture has enlisted movie-theater chain AMC as a distribution partner. AMC is commited to devoting entire theaters to Latino-targeted films.
“If there is a Pantelion Film, we’ll show it,” said AMC Theaters CEO Gerry Lopez, also at the press conference. Also expressing their commitment to the new offerings were Cinemark and Regal Entertainment.
In addition to regular media buys on broadcast television, radio, newspapers and magazines, Pantelion films will be heavily promoted on McNamara’s Cine Latino.
The first film to be released under the new venture is From Prada to Nada, a Latino spin on Jane Austen’s Sense and Sensibility, in which two spoiled sisters who have been left penniless after their father’s sudden death are forced to moove in with their estranged aunt in East Los Angeles. Release date is Jan. 28, 2011.
In addition to producing U.S.-made films for American audiences, Pantelion will also leverage the power of films already being made in Latin America, particularly those hailing from Grupo Televisa.
“This is also a very good thing for us to be able to distribute in the U.S. Televisa movies made in Mexico,” said Televisa’s Azcarraga, who made an earlier but short-lived incursion into U.S. distribution with Televisa Cine.
A veteran of Spanish-language media, McNamara launched independent production company Panamax Films in late 2005, seven months after stepping down as CEO of Telemundo.
Source: Laura Martinez
Entry filed under: INDUSTRY NEWS, LATIN AMERICAN FILM. Tags: AMC, cine latino, cine latinoamericano, Cinemark, Emilio Azcarraga, From Prada to Nada, Gerry Lopez, Grupo Televisa, Jim McNamara, Latam film, latin america film, Lionsgate, Panamax Films, Pantelion, Paul Presburger, Regal Entertainment.