Looking to capitalize on the burgeoning Asian market, Saban Capital Group and Lionsgate are partnering with a Hong Kong media company to create new pay TV channels and programming.
The venture — Celestial Tiger Entertainment — will launch with six channels, including three owned by new partner Celestial Pictures, which boasts one of the largest Chinese movie channels, Celestial Movies, and a large library of Chinese action films.
Saban Capital and Lionsgate, Hollywood's largest independent film studio, will contribute the three channels that they jointly own. The two companies began their collaboration nearly two years ago with the formation of Tiger Gate Entertainment. The trio of channels — KIX, KIX HD and Thrill — are currently distributed in five territories: Singapore, Hong Kong, the Philippines, Thailand and Indonesia.
Saban Capital is the leading investor in Celestial Tiger, which will be based in Hong Kong. Saban Capital declined to say how much money it would contribute to the endeavor.