Celestial, Saban, Lionsgate team up for pay-TV platform
Wednesday 21 Dec 2011
Celestial Pictures Limited, Saban Capital Group and Lionsgate announced today in a press release, the creation of Celestial Tiger Entertainment (CTE).
CTE is an independent Asian media company focused on branded pay-TV channels, content creation and distribution across Asia.
Celestial Pictures is a wholly owned unit of Astro, which owns and operates, the direct-to-home platform in Malaysia. It also owns the legendary Shaw Brothers Film Library and distributes movie channels globally. Saban Capital Group is a leading private investment firm specialising in the media, entertainment and communications industries; and Lionsgate is the world’s largest independent filmed entertainment studio.
CTE’s Board of Directors will include representatives from Saban Capital Group, Celestial Pictures and Lionsgate. Saban is reported to have invested US$30 million in the venture.
The three companies noted CTE will continue to expand and roll out new channels.
Celestial Pictures will continue to own and distribute the legendary Shaw Brothers Film Library and CTE will license content from Celestial Pictures for its channels. CTE will also be the exclusive sales agent for all of Lionsgate’s content in Southeast Asia and China.
Celestial Pictures has been a leader in Asian language film and television production and distribution and operation of TV channels since its formation in 2001. Tiger Gate, owned jointly by Lionsgate and Saban Capital Group since April 2010, has launched its branded KIX and Thrill channels in Singapore, Thailand and the Philippines.
Celestial Tiger Entertainment will be headquartered in Hong Kong and will include staff from both Celestial Pictures and Tiger Gate.