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NEW
DELHI: Fox Filmed Entertainment has launched Fox International
productions (FIP) to produce, co-finance, distribute and acquire
local language films in the key territories of India, Japan,
Germany and Russia.
FIP
will work closely with Fox's other production divisions and
partners and also will tap into its News Corp sister companies,
including Star, Sky and MySpace, among others. It will capitalise
on the company's leading international distribution network
and parent News Corp's vast global presence.
Earlier
News Corp. had various divisions in the international market.
But this is the first time that it has brought its global
projects under one roof.
FIP
will complement Fox’s worldwide releases with local language
films in key markets, where it will develop partnerships with
local producers and filmmakers and make strategic production
agreements. Fox is in active discussions with several investment
funds interested in providing equity financing for its international
productions.
Sanford
Panitch, a veteran studio executive at New Regency and Fox,
has been tapped to run the entity, which will serve to organize
all of Fox’s existing and future indigenous productions
under one banner.
Panitch,
who most recently served as President of Filmed Entertainment
for New Regency (a partnership with News Corporation and Twentieth
Century Fox), will become president of the Los Angeles-based
FIP. He will report to Fox Filmed Entertainment Chairmen and
CEOs, Jim Gianopulos and Tom Rothman, who made the announcement.
“We have the infrastructure provided by the world’s
most global media company along with Fox’s unmatched
marketing and distribution operations, and in Sanford, we
have a seasoned, successful executive with whom to entrust
this important enterprise,” said Gianopulos. “All
of these factors – as well as our existing relationships
and collective experience around the world – position
us for great success.”
“This is a natural next step for me and a great opportunity,”
said Panitch. “And to be able to do it in an environment
with such an incredibly broad global presence is ideal. Our
slate will include films targeted for the markets in which
they are made and some pictures for a broader international
audience.”
The endeavour will also coordinate efforts with Fox International,
run by co-presidents Tomas Jegeus and Paul Hanneman. Fox International
will handle all marketing and distribution for FIP.
FIP will be staffed in Los Angeles with business affairs,
development and production executives and will draw on the
expertise of creative individuals on staff in those key territories.
It also will rely on the continuing efforts of Tony Safford,
Fox’s executive vice president of worldwide acquisitions.
Panitch has served as president of filmed entertainment for
New Regency for the past seven years, moving from Twentieth
Century Fox where he last served as executive vice president
of production. During his career, he has supervised such films
as Mr. and Mrs. Smith, The Fugitive, Seven
and Titanic.
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