HONG KONG, Nov. 6, 2013 /PRNewswire/ -- Horizon Entertainment Group Ltd. ("Horizon"), a Hong Kong based company, had signed a business cooperation agreement with i-marker Culture & Media Investments Ltd. ("i-marker Media") on 10 October, 2013 (the "Horizon Agreement"). Pursuant to the Horizon Agreement and on exclusive basis, Horizon will apply its strategic partnership with leading Hollywood and international film and TV studios, producers, film makers and production teams, and exclusive agreements with strategic partners including Cactus Three and Cargo Entertainment, to assist in film import businesses in China to ensure access to a pipeline of premium Hollywood blockbuster film content and acquisitions of related IPs and other rights including merchandize, internet and mobile gaming for import and distribution across all media platform throughout mainland China, Hong Kong and internationally. Pursuant to the Horizon Agreement, Horizon will also apply its film production and animation expertise to assist in film distribution, animation, production, and related internet and mobile gaming businesses in China, including the proposed plan of building up a world class animation studios with created brand name and production team in China.
Horizon is formed by its key management and advisory team which consists of world class US film production, animation and entertainment media industry professionals including (i) Ms. Krysanne Katsoolis (founding partner of Cactus Three); (ii) Mr. Lloyd Chao (current director of Shaw Brothers and former Vice President and Producer of Golden Harvest); (iii) Mr. Terry Wong (Executive Producer and Director of Waterproof Studios (East) Ltd. and Vision Media); (iv) Mr. Larry DeFlorio (President and CEO of Waterproof Studios); (v) Mr. Pat Lee (Partner/Creative Director of Secret Lab Ltd.; and as comic artist and creative director who created the original North American series of Transformers comics, and over 400 covers and comics for DC, Marvel, Extreme Studios-Image Comics and Jim Lee, including Batman, Superman, Spiderman, Ironman, X-Men/Fantastic Four, Wolverine and Punisher); (vi) Mr. Martin Kumor (Director and CTO of Waterproof Studios). It also includes Hollywood import film agent and partner such as Cactus Three and Cargo Entertainment; and animation strategic partner such as Waterproof Studios of Canada.
i-marker Media had entered into a cooperation agreement ("Cooperation Agreement") with China National Culture and Art Corporation ("CNCAC") in respect of the exclusive partnership in import and distribution of foreign TV content, revenue sharing import films and flat fee import films in the PRC, and the partnership in development of world class animation, film and TV production enterprise and related cultural business in China.
Founded in 1987, CNCAC is a large state-owned cultural enterprise directly under the Ministry of Culture of China. Its main business includes operating various large-scale cultural and artistic performances in China.
Pursuant to the Cooperation Agreement, i-marker Media, along with its exclusive partner Horizon, will focus on the set up of strategic partnership with world class Hollywood and international film and TV studios, producers, and production teams; formulation of import film plan and strategy; appointment of Hollywood import film agent and partner; and assisting in the set up of cinema circuits in the PRC.
According to the State Administration of Radio, Film and Television, China's box office reached USD2.74bn (RMB17.07bn) in 2012, with an annual growth rate at nearly 30% for the past five consecutive years. US and other foreign films accounted for more than half of the China market in 2012, grossing USD1.41bn (RMB8.8bn) for a 51.54% market share.
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SOURCE Horizon Entertainment Group Ltd.
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