Ashok Amritraj's Hyde Park Entertainment is setting up a multi-million dollar fund in Asia for the production of feature films.
The fund aims to raise $55-$73 million. Hyde Park's Asia offices will be based in Singapore.
Hyde Park will produce or co-produce three to four films per year, which will include a mixture of English and local or regional language films to target international as well as national or regional market.
The company aims to establish long-term producing partnerships with local production houses in India, Japan and South Korea.
The fund has positive support from Singapore's Media Development Authority, though it is not going to put in money behind the fund.
Singapore's Media Development Authority CEO Christopher Chia said that he expects the production funding to raise Singapore's position as a global media city.
In Asia Hyde Park has projects like “Street Fighter: The Legend of Chun-Li,” which is based on the Japanese “Street Fighter” video game authorization; and “The Other End of the Line,” a romantic comedy that will be released by MGM.
In India, Amritraj has a three-picture deal with Adlabs Films. Adlabs is also believed to be involved in co-financing films with Hyde Park Asia.
Headed by Lisa Wilson, Hyde Park International will handle all foreign territories. Hyde Park Asia will arrange North American distribution for the company's films.
Source: Indian Television