Business
Image in Media Inc. announces US$20 million feature film co-production agreement with Chinese and UK partners
Image in Media Inc. announces US$20 million feature film co-production agreement with Chinese and UK partners.
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[{"type":"text","content":"\n\n\n\n\nMONTREAL, Jan. 10 /CNW Telbec/ - Image in Media Inc. (\"Image\"), a growing\nmedia group that finances, acquires and exploits television and filmed content\nfor the international market, announces today that it has signed a US$20\nmillion co-production agreement for a 3D animation feature film entitled\n\"Monster Club the Movie\" with China Film Animation Ltd. (\"CFA\"), and UK-based\nproducer Treehouse Film and Television Limited (\"Treehouse\") and that\nproduction is planned to start in Q1 2006.\n\"Monster Club is an important milestone for Image,\" said Paul Allard,\nPresident and CEO. \"It is the starting point of a long term relationship with\nCFA, our Chinese partner and it is our first major international co-production\nthat demonstrates the strength of our business model. This production has\ngenerated strong interest from a major US distributor for theatre release.\"\n\"As we focus in building a catalogue of content for exploitation on the\ninternational market, we have to collaborate with independent producers around\nthe world that share our vision,\" Allard said. \"Monster Club is the first of a\nseries of productions supporting that plan.\"\nThe 90-minute film is based upon the successful UK comic created by Kit\nWallis, published by UK-based AP Comics Ltd. \"The film idea was developed\nafter a leading US distributor contacted us to see if there was a chance of\ndeveloping the comic idea to film,\" said UK co-producer Phil Littler. \"We were\nalready going along those lines so we followed them up by sending the\ndistributor a script, then things moved very quickly\". The Production of the\nfilm is planned to start in early 2006 and will be completed within 12 months.\nImage announced on October 13, 2005 that it has agreed to be acquired by\nSection Rouge Media Inc. (TSX Venture Exchange: SRO) (\"Section Rouge\").\nSection Rouge is also currently proceeding with a private placement of common\nshares to raise a minimum of $2.5 million and a maximum of $4 million with\nResearch Capital Corporation acting as the agent. It is expected that the\nclosing of the placement and the acquisition of Image will occur during the\nfirst quarter of 2006.\n\nAbout Image in Media Inc.\n\nImage acquires, produces, and exploits television and film content for\nthe international market. The company also owns the International...