Korea’s New Strikes Multi-Picture Deal With Library Pictures
Korean outfit Next Entertainment World (New) and financier Library Pictures International have signed a three-year co-financing deal covering a slate of Korean-language films. The companies say the pact will focus on making diverse titles with appeal for local filmgoers as well as the potential to be harnessed for remakes in the U.S. and around the world. Next Entertainment World’s projects to date include Train To Busan, Peninsula and The Great Battle. Library has investments in Legendary Pictures and operates co-financing deals in Indonesia, Vietnam, and Turkey. CAA Media Finance, Evolution Media Capital, and O’Melveny & Myers advised on the deal. The deal was negotiated with Danny Lee and Whitney Kim for New.
“The partnership with Library will be a driving force in expanding opportunities for Korean storytellers and accelerate our overall growth,” said Kim Jae-min, President of New’s film department.
Korean outfit Next Entertainment World (New) and financier Library Pictures International have signed a three-year co-financing deal covering a slate of Korean-language films. The companies say the pact will focus on making diverse titles with appeal for local filmgoers as well as the potential to be harnessed for remakes in the U.S. and around the world. Next Entertainment World’s projects to date include Train To Busan, Peninsula and The Great Battle. Library has investments in Legendary Pictures and operates co-financing deals in Indonesia, Vietnam, and Turkey. CAA Media Finance, Evolution Media Capital, and O’Melveny & Myers advised on the deal. The deal was negotiated with Danny Lee and Whitney Kim for New.
“The partnership with Library will be a driving force in expanding opportunities for Korean storytellers and accelerate our overall growth,” said Kim Jae-min, President of New’s film department.
- 3/18/2021
- by Tom Grater
- Deadline Film + TV
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