Grupo Televisa and independent film studio Lionsgate have launched Pantelion Films, a joint venture targeting the 26 million Latino moviegoers in the U.S. Televisa CEO Emilio Azcárraga Jean and Lionsgate CEO Jon Feltheimer made the announcement yesterday in NYC.
Jim McNamara, former President and CEO of Telemundo and currently head of Panamax Films, is the Chairman of Pantelion Films and will oversee the new project.
Pantelion is scheduled to release 8 to 10 films a year over the next 5 years. The first film, a comedy titled “From Prada to Nada,” about two spoiled sisters left penniless, will kick off the series in January 2011. About half the films will be produced in-house, the other half will be acquired.
The top 3 U.S. movie theater chains – AMC, Cinemark and Regal Entertainment Group- have signed up to show the films.