Oct 01, 2020
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MGM pacts on giant Abu Dhabi deal

MGM has inked a massive deal with Abu Dhabi-based real estate developer Sorouh and Jordanian animation shingle Rubicon to create an entertainment destination using MGM and Rubicon franchises.

Deal is the latest in a string of pacts between Hollywood studios and business interests in the United Arab Emirates.

The multifaceted strategic alliance, which could be worth up to $1 billion once all the projects are completed, will include retail, leisure and entertainment facilities.

Execs are also looking into creating a dedicated film and TV production fund, as well as exploring the possibility of building an animation studio in oil-rich Abu Dhabi.

Deal will likely take three to five years to complete, although the first CG concepts for the project are likely to be unveiled before the end of the year.

“We’re creating something never before seen in the industry,” MGM exec veep Travis Rutherford told Daily Variety. “It will be a unique environment.”

MGM properties such as “The Pink Panther,” “Rocky” and “Stargate” are likely to figure prominently in the development — which all involved were keen to stress will not be a theme park — as well as animated characters such as Ben and Izzy from the Rubicon stable.

Deal follows a strategic partnership inked last June between MGM and Rubicon, the first part of which was a co-financing and co-production joint venture on 26-episode animated skein “Pink Panther & Pals.”

Latest pact will see execs from MGM, Sorouh and Rubicon develop a range of dedicated creative content and entertainment platforms based on existing and new franchises.

“We’ll be working together to develop unique content for the region,” said Rubicon chief exec Randa Ayoubi. “We will be bringing together East and West to get the best out of both worlds. We have so many stories to tell the rest of the world and actually make money out of it.”

Rubicon has gained a reputation as one of the Middle East’s foremost animated shingles with a concerted effort to produce positive, educational entertainment to auds in the West and the Arab world using local stories and traditions. “Ben & Izzy” is a 3-D CG skein about an American boy and an Arab one who travel through time on an archaeological expedition.

Deal involving MGM comes after other Hollywood heavyweights began a push into Mideast regions that offer opportunities for mediatitans.

In January, DreamWorks Animation announced a billion-dollar strategic alliance with Dubai-based real estate company Tatweer to develop a range of tourism and leisure projects. Universal, Paramount, Nickelodeon and Marvel have all planted their flags in the UAE in the past 12 months.

In October, Warner Bros. inked its own multibillion-dollar, multimedia deal with Abu Dhabi-based company Al-Dar. In addition to the now-customary real estate aspects, it also included a $500 million production fund and a $500 million vidgame fund as well as coin for Arab-language features.

Abu Dhabi officials have been ramping up their cultural activities in recent months, inking mega-bucks deals to open local branches of the Louvre and Guggenheim museums. Lensing is also set to begin on Robert Rodriguez’s “Shorts,” the first project greenlit through the Warners Bros. fund.

MGM plans to open a Shanghai-set MGM Studio World destination in spring 2010 to coincide with the World’s Fair Expo in the Chinese city.

Variety

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Front Page, Industry News

MGM pacts on giant Abu Dhabi deal

MGM has inked a massive deal with Abu Dhabi-based real estate developer Sorouh and Jordanian animation shingle Rubicon to create an entertainment destination using MGM and Rubicon franchises.

Deal is the latest in a string of pacts between Hollywood studios and business interests in the United Arab Emirates.

The multifaceted strategic alliance, which could be worth up to $1 billion once all the projects are completed, will include retail, leisure and entertainment facilities.

Execs are also looking into creating a dedicated film and TV production fund, as well as exploring the possibility of building an animation studio in oil-rich Abu Dhabi.

Deal will likely take three to five years to complete, although the first CG concepts for the project are likely to be unveiled before the end of the year.

“We’re creating something never before seen in the industry,” MGM exec veep Travis Rutherford told Daily Variety. “It will be a unique environment.”

MGM properties such as “The Pink Panther,” “Rocky” and “Stargate” are likely to figure prominently in the development — which all involved were keen to stress will not be a theme park — as well as animated characters such as Ben and Izzy from the Rubicon stable.

Deal follows a strategic partnership inked last June between MGM and Rubicon, the first part of which was a co-financing and co-production joint venture on 26-episode animated skein “Pink Panther & Pals.”

Latest pact will see execs from MGM, Sorouh and Rubicon develop a range of dedicated creative content and entertainment platforms based on existing and new franchises.

“We’ll be working together to develop unique content for the region,” said Rubicon chief exec Randa Ayoubi. “We will be bringing together East and West to get the best out of both worlds. We have so many stories to tell the rest of the world and actually make money out of it.”

Rubicon has gained a reputation as one of the Middle East’s foremost animated shingles with a concerted effort to produce positive, educational entertainment to auds in the West and the Arab world using local stories and traditions. “Ben & Izzy” is a 3-D CG skein about an American boy and an Arab one who travel through time on an archaeological expedition.

Deal involving MGM comes after other Hollywood heavyweights began a push into Mideast regions that offer opportunities for mediatitans.

In January, DreamWorks Animation announced a billion-dollar strategic alliance with Dubai-based real estate company Tatweer to develop a range of tourism and leisure projects. Universal, Paramount, Nickelodeon and Marvel have all planted their flags in the UAE in the past 12 months.

In October, Warner Bros. inked its own multibillion-dollar, multimedia deal with Abu Dhabi-based company Al-Dar. In addition to the now-customary real estate aspects, it also included a $500 million production fund and a $500 million vidgame fund as well as coin for Arab-language features.

Abu Dhabi officials have been ramping up their cultural activities in recent months, inking mega-bucks deals to open local branches of the Louvre and Guggenheim museums. Lensing is also set to begin on Robert Rodriguez’s “Shorts,” the first project greenlit through the Warners Bros. fund.

MGM plans to open a Shanghai-set MGM Studio World destination in spring 2010 to coincide with the World’s Fair Expo in the Chinese city.

Variety

Leave a Reply

Your email address will not be published. Required fields are marked *

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>

Front Page, Industry News

MGM pacts on giant Abu Dhabi deal

MGM has inked a massive deal with Abu Dhabi-based real estate developer Sorouh and Jordanian animation shingle Rubicon to create an entertainment destination using MGM and Rubicon franchises.

Deal is the latest in a string of pacts between Hollywood studios and business interests in the United Arab Emirates.

The multifaceted strategic alliance, which could be worth up to $1 billion once all the projects are completed, will include retail, leisure and entertainment facilities.

Execs are also looking into creating a dedicated film and TV production fund, as well as exploring the possibility of building an animation studio in oil-rich Abu Dhabi.

Deal will likely take three to five years to complete, although the first CG concepts for the project are likely to be unveiled before the end of the year.

“We’re creating something never before seen in the industry,” MGM exec veep Travis Rutherford told Daily Variety. “It will be a unique environment.”

MGM properties such as “The Pink Panther,” “Rocky” and “Stargate” are likely to figure prominently in the development — which all involved were keen to stress will not be a theme park — as well as animated characters such as Ben and Izzy from the Rubicon stable.

Deal follows a strategic partnership inked last June between MGM and Rubicon, the first part of which was a co-financing and co-production joint venture on 26-episode animated skein “Pink Panther & Pals.”

Latest pact will see execs from MGM, Sorouh and Rubicon develop a range of dedicated creative content and entertainment platforms based on existing and new franchises.

“We’ll be working together to develop unique content for the region,” said Rubicon chief exec Randa Ayoubi. “We will be bringing together East and West to get the best out of both worlds. We have so many stories to tell the rest of the world and actually make money out of it.”

Rubicon has gained a reputation as one of the Middle East’s foremost animated shingles with a concerted effort to produce positive, educational entertainment to auds in the West and the Arab world using local stories and traditions. “Ben & Izzy” is a 3-D CG skein about an American boy and an Arab one who travel through time on an archaeological expedition.

Deal involving MGM comes after other Hollywood heavyweights began a push into Mideast regions that offer opportunities for mediatitans.

In January, DreamWorks Animation announced a billion-dollar strategic alliance with Dubai-based real estate company Tatweer to develop a range of tourism and leisure projects. Universal, Paramount, Nickelodeon and Marvel have all planted their flags in the UAE in the past 12 months.

In October, Warner Bros. inked its own multibillion-dollar, multimedia deal with Abu Dhabi-based company Al-Dar. In addition to the now-customary real estate aspects, it also included a $500 million production fund and a $500 million vidgame fund as well as coin for Arab-language features.

Abu Dhabi officials have been ramping up their cultural activities in recent months, inking mega-bucks deals to open local branches of the Louvre and Guggenheim museums. Lensing is also set to begin on Robert Rodriguez’s “Shorts,” the first project greenlit through the Warners Bros. fund.

MGM plans to open a Shanghai-set MGM Studio World destination in spring 2010 to coincide with the World’s Fair Expo in the Chinese city.

Variety

Leave a Reply

Your email address will not be published. Required fields are marked *

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>

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