Montreal’s Mediabiz International and India’s Toonz have partnered to open a new animation and live-action production unit in Canada with plans to invest in projects worth $200 million US in the next three years.

The decision to establish Toonz Entertainment Global, Canada stems from growing co-operation between North American and Asian production houses, Toonz Group CEO P. Jayakumar said today in a press release.

“The partnership with an established house like Mediabiz makes Toonz one step nearer to being an established global player,” Jayakumar said.

Founded in 1999, Toonz specializes in the production, sales and distribution of animated films, television series and direct-to-video content.

“The association with Toonz aims to offer a combination of top production expertise on all platforms, as well as potential high-capital investments to participate in the co-financing and co-production of world-class brands,” said Karine Martin, president and CEO of Mediabiz.

Projects already in the pipeline include season two of the Speed Racer TV series and HTDT, another TV series, each budgeted at more than $6 million US, Toonz said.

“Mediabiz is committed to partnering in a slate of projects with world-renowned production and distribution partners,” Martin said.

Byline: Philip Alves
My Media Biz
Online: November 16, 2010 [www.mymediabiz.com]