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CJ ENM invests in Hollywood production company that created “Mission Impossible”… “Along with the Gods Director Kim Yong-hwa to collaborate on the project”

By 2020.02.11 June 4th, 2020 No Comments

Entertainment and lifestyle company CJ ENM announced on February 11, 2020, its decision to enter into strategic partnership arrangements with leading content companies both in Korea and abroad to bolster its core production capabilities and create some momentum for its global initiatives. CJ ENM and Studio Dragon signed a strategic partnership with Hollywood production company Skydance Media to co-produce and invest in content, including TV serials and movies, for consumers all over the world. Skydance Media is best known for producing “The Terminator” and “Mission Impossible.” CJ ENM and Studio Dragon acquired a minority stake in Skydance Media as part of their new partnership arrangement. Together, all three partners will leverage their owned IP to plan, develop, and produce new TV serials and movies targeting consumers across the globe. With its new strategic partnership with Skydance Media, CJ ENM says it will look to boost its capacity to produce premium content IP and bolster its global network to give its globalization plan a significant push forward. In November 2019, CJ ENM and Studio Dragon signed a strategic partnership with Netflix. This new partnership with Netflix, combined with its new connections to Hollywood powerhouse Skydance Media, will give both CJ ENM and Studio Dragon another opportunity to prove their capacity and potential in creating well-made content for the global market. CJ ENM also made significant inroads recently into securing content-related technology based on new technological breakthroughs. It signed a major equity investment agreement with Dexter Studio, a company specializing in computer graphics and visual effects (CG/VFX) and content production, making CJ ENM the second-largest shareholder of Dexter Studio. CJ ENM’s ability to develop, produce, and invest in good content, backed up by a myriad of successful TV serials and motion pictures, and its powerful global network are expected to take a significant step forward as it adds superior GC and VFX technology available at Dexter Studio. Both companies will work together to create content for the global market that stands out against the competition. In addition, CJ ENM says it will devote more resources into improving its portfolio of blockbuster IP with the potential to succeed internationally. To this end, it acquired an equity stake in Blaad Studios, a new production company created by Director Kim Yong-hwa. With box office hits “Take Off,” “Along with the Gods 1, 2” (both directed by Kim), and “Ashfall” (directed and produced by Kim) on his resume, Kim has been touted in Korea and abroad as a talented, up-and-coming director/producer. CJ ENM CEO Heo Min-heoi said, “CJ ENM is looking to produce content that can reach and succeed in the global market by collaborating with leading domestic and foreign content partners. We will do our absolute best in supporting talented creators as they expand into overseas markets, and promote Korean cultural content across the globe by developing major IP content tailored to the tastes of consumers all over the world.”

Etoday : http://www.etoday.co.kr/news/view/1855826

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