Saban Capital-backed Tiger Gate creates media JV
Tiger Gate, the pay-TV distributor backed by Saban Capital Group, has partnered with Celestial Pictures to establish media company Celestial Tiger Entertainment (CTE).
Celestial Pictures owns and operates the Shaw Brothers Film Library and a digital satellite service in Malaysia, and distributes movie channels globally.
The new business will focus on branded pay-TV channels, content creation and distribution across Asia, and will combine Celestial Pictures' flagship movie channels and subscription video on demand service with Tiger Gate's three pay-TV channels: KIX, Thrill and KIX HD.
Saban, Celestial Pictures and Lionsgate, a shareholder in Tiger Gate, will each have a presence on the board of directors.
The Los Angeles-based media and communications investment firm controlled by billionaire Haim Saban is said to have made a significant capital investment - its fourth so far in Asia. This should enable Hong Kong-based CTE to improve the performance of its pay TV channel operations and extend its distribution footprint as well as expand and roll out new channels through a combination of organic growth and strategic acquisitions.
"We are very excited about Celestial Tiger Entertainment's prospects to build a leading position in channel distribution, content distribution and content creation across Asia," said Saban president and chief operating officer Adam Chesnoff.
Tiger Gate, which distributes and operates Asian-focused martial arts, action and horror pay-TV channels, has been owned jointly by Saban and Lionsgate since April 2010. The purpose of their joint venture was to expand the firm's footprint from Hong Kong, Indonesia and Singapore across other regional markets, launch new channels and content, and acquire media assets. It was started by former Sony Pictures Asia head and Celestial Pictures founder William Pfeiffer in 2008.
Saban purchased a 5% stake in another Asian media company, Indonesia's PT Media Nusantara Citra, for INR692 billion ($78.2 million) in October.
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