| 08 Oct 2009 |
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Imagenation Abu Dhabi and Parkes/MacDonald Productions partner on new venture
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Initial US$10 Million Revolving Fund Created to Foster Development Slate
Abu Dhabi- October 8, 2009: Imagenation Abu DhabiImagenation Abu Dhabi
, a wholly owned subsidiary of Abu Dhabi Media Company, announced today in unison with Walter Parkes and Laurie MacDonald of Parkes/MacDonald Productions, the formation of a new company created to provide financing for the development of film projects. The new venture will consist of an initial 10 million USD revolving fund which will invest in future Parkes/MacDonald projects developed under their first-look deal with DreamWorks Studios, as well as directly with Imagenation Abu DhabiImagenation Abu Dhabi or with other major studios. Commenting on the new shingle, H.E. Mohamed Khalaf Al Mazrouei, Chairman of Imagenation Abu DhabiImagenation Abu Dhabi said: "Not only is this an important strategic and financial venture - but it serves as a pipeline in which valuable material will be generated to complement and enhance our existing partnerships with Participant Media, National Geographic and Hyde Park Entertainment, as well as to create new relationships with other major Hollywood studios."
Imagenation Abu DhabiImagenation Abu Dhabi CEO, Edward Borgerding added: "Walter and Laurie have a proven track record and knack for developing quality scripts that attract extraordinary talent. We look forward to partnering with them and ultimately financing many of their productions through our affiliate companies."
"This is a unique partnership that reflects many of the realities of today's rapidly changing film business," said Walter Parkes. "Regardless of how financial models change or which platforms evolve to deliver filmed entertainment to the audience -- at the end of the day it still comes down to the script and this new venture embodies and rewards that philosophy."
Walter Parkes and Laurie MacDonald formed their Santa Monica based company, Parkes/MacDonald Productions in May 2005. They currently have a first-look deal at DreamWorks Studios and an upcoming slate that includes Jay Roach's Dinner for Schmucks, Motorcade, and Men in Black 3. As the former co-heads of DreamWorks, the husband-and-wife team were responsible for the development and production of the company's film slate including: Catch Me If You Can, American Beauty, The Terminal, Gladiator, Saving Private Ryan and Almost Famous.
Imagenation Abu DhabiImagenation Abu Dhabi
was launched in September 2008 to develop, finance and produce full-length feature films and digital content for Arabic and global markets. From its base in Abu Dhabi, the company has established partnerships with high-profile, internationally-based producers such as Hyde Park Entertainment, National Geographic and Participant Media to develop and create content for distribution internationally, in addition to supporting Middle East filmmakers and Arabian film production. HE Mohamed Khalaf Al-Mazrouei is the Chairman, Edward Borgerding is the Chief Executive Officer and Stefan Brunner is the Chief Operating Officer. Imagenation Abu DhabiImagenation Abu Dhabi's feature films include Robert Rodriguez's Shorts, Peter Weir's The Way Back, Doug Liman's Fair Game as well as Furry Vengeance and The Crazies.-Ends-
Please contact for more information:
DDA Public Relations
Dana Archer / Aimee Anderson
dana.archer@ddapr.com / aimee.anderson@ddapr.com
(310) 205-4868 /0207 932 9800
Omar Abedrabbo, Abu Dhabi Media Company
Mobile: 00971 50 5842741
Omar.abedrabbo@admedia.ae
Sawsan Abu Omar, Abu Dhabi Media Company
Mobile: 00971 50 6169707
Sawsan.abuomar@admedia.ae
© Press Release 2009
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