Miramax Intl. President Launching $75 Million Asia Fund To Invest in Movies For Multiplatform

Ian Jessel, the former Miramax International president, is launching an entertainment investment and production venture called Ambassador Media Partners, targeting the fast-evolving Asian industry, with starting capital of $75 million, reports Variety.
An early focus will be Chinese and Korean co-productions and remake rights to U.S. and European properties that can be produced in China for the local and international markets….a big part will be online and mobile sales. Also, it will acquire stakes in content firms and entertainment infrastructure companies with interests ranging from digital distribution to telecom, although gaming is a low priority. Ambassador is in advanced negotiations to acquire a stake in a U.S.-based tech company with operations in Korea, the story says.
The fund size could rise up to $150 million soon.

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