Abu Dhabi to invest $1B in movie production

DUBAI, United Arab Emirates (AP) -- Abu Dhabi Media, a state-owned firm fueled by the Arab capital's immense oil wealth, said Wednesday it will invest more than $1 billion in feature film and digital media production over the next five years.

Click here for free Newsletter subscription!

Through a new division dubbed "imagenation abu dhabi," the company plans to establish partnerships with "high-profile" producers in the U.S. and elsewhere, including the Middle East.