Wednesday, September 3, 2008

Abu Dhabi To Invest $1 Billion In Hollywood

The funding, provided by Abu Dhabi’s government, will allow the Gulf state to back up to eight films a year over the next five years, Edward Borgerding, chief executive of the Abu Dhabi Media Company told FT.

ADMC has set up a company, called imagenation abu dhabi, to manage its film investments.

“Our target output of eight films every year will make imagenation abu dhabi one of the world’s top producers of feature films and establish Abu Dhabi as a leading centre for content creation,” ADMC said in a statement.

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