UK and Canada-based VFX firm Cinesite has made its first foray into Asia, acquiring a majority stake in rising CGI animation and VFX studio Assemblage, based in Mumbai, India.
02.11.2022 - 11:15 / deadline.com
ITV Studios has acquired a majority stake in Australian producer Lingo Pictures — marking its first acquisition in the country.
ITV’s production and sales arm paid an undisclosed amount for the Sydney-based company, which is best known for Upright, the Sky and Foxtel Australia drama starring Tim Minchin and House of the Dragons‘ Milly Alcock. Deadline understands the deal value is in the eight-figure US dollars region.
The deal highlights the growing value international production groups are seeing in Australia, whose favorable tax breaks system is increasingly attractive, and Australian dramas, with Paramount+’s Last King of the Cross one of the most sought-after titles available at Mipcom last month.
Lingo owners Helen Bowden and Jason Stephens will continue to head up Lingo, which will now sit in ITV Studios’ international production arm, which Lisa Perrin leads as Managing Director.
Other international drama labels in the group include Ben Stephenson’s recently established Poison Pen Studios; Nicola Shindler’s Quay Street Productions; Dominic Treadwell Collins’ Happy Prince, which houses Patrick Spence and David P. Davis’ 5Acts; Arturo Diaz’s Cattleya Producciones; Moritz Polter’s Windlight Pictures; Marty Adelstein and Becky Clements’ Tomorrow Studios; and Tony To and Dan Sackheim’s Bedrock Entertainment.
Perrin said: “I’m absolutely delighted to welcome Helen and Jason whose partnership has become one of the most admired in the Australian and international scripted space. Their talent for producing high quality scripted content is clear and they are well positioned to take even more advantage of the unprecedented demand for English language drama as part of our global network of production companies.”
Lingo’s
UK and Canada-based VFX firm Cinesite has made its first foray into Asia, acquiring a majority stake in rising CGI animation and VFX studio Assemblage, based in Mumbai, India.
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Mipcom — the first full-strength edition of the fall confab since 2019 — prepares to come to a close in Cannes on Thursday, Variety presents the top takeaways from a vibrant market. Mipcom Proves Itself Those of us who saw tumbleweeds rolling across the Croisette at a painfully quiet Mipcom 2021 and Miptv earlier this year will know that this Mipcom was the first since since pre-pandemic times that the international TV industry has congregated from all over the globe. Morale was sky high as sellers saw their Asian contacts for the first time in three years, and U.S. studios assured global buyers amid a strained period of domestic consolidation. While specialized markets such as Series Mania, MIA, Realscreen and Sunny Side of the Doc returned this year, delegates seemed to recognize the value of having the entire industry together in one place. Mip organizer RX has confirmed that MipTV is indeed going ahead in April — and will likely face the perennial struggle of getting exhibitor buy-in — but if there’s anything no one is questioning, it’s the fact that Mipcom is an essential meeting of minds for television.
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