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Abu Dhabi firm signs movie deal

September 11, 2008|From Times Staff and Wire Reports

Abu Dhabi Media Co.'s new movie company subsidiary Imagenation Abu Dhabi has signed a deal with Jeff Skoll's Participant Media as part of its recently announced commitment to fund more than $1 billion in movie productions.

The agreement between the government-controlled Abu Dhabi company and Participant -- the first of three deals Imagenation intends to make with producers -- allows for a five-year revolving fund of as much as $250 million to cover production and marketing costs for 15 to 18 features.

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