Under the agreement, Central Production will have the exclusive right for the hire of PPI films in Russia and will invest in Russia’s films of the partner.
Photo: Evgeny Dudin
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Central Partnership Teams Up with Paramount
Subsidiary of Vladimir Potanin’s Prof Media Holding, Central Partnership will co-produce Russia’s films of Paramount Pictures. It is the first deal clinched between the cinema giant and a Russia’s company that provides for the right division in part of the jointly produced films. Russia’s firms have been no more than contractors until recently.
Central Partnership Group concluded an agreement with Paramount Pictures International (PPI), whereby it becomes January 1, 2009 the exclusive representative of the U.S. film-maker in the states of the former Soviet Union (but for the Baltic States and Ukraine), Central Partnership General Director Ruben Dishdishyan made a statement via the briefers.
Under the agreement, Central Production will have the exclusive right for the hire of PPI films in Russia and will invest in Russia’s films of the partner. What’s more, PPI will distribute Central Partnership’s films overseas. Andrew Cripps, the president of Paramount Pictures International, confirmed the information.
Central Partnership Group was set up in 1996; it owns Central Partnership filmmaker, Central Partnership Sales House, as well as Video 24 Internet portal. Its 2007 revenues exceeded $150 million under the own estimate of the group.
So far, the major filmmakers have attracted Russia’s companies only as contractors. But according to Movie Research, the share of domestic films in the overall box-office taking is widening in Russia. It was 6.1 percent (194.4 million ruble) in 2002 and equals 27.9 percent (4.353 billion ruble) today. If the giants are interested in Russia’s market of film-hire (that booms 37 percent on year vs. the U.S. growth of 2 percent and 3 percent), they have to cooperate with local producers, explained Movie Research General Director Oleg Ivanov.
www.kommersant.com
All the Article in Russian as of Sep. 15, 2008
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