‘Ash’ fires up limited partnership

Cunningham's latest pic gets funding

This article was updated on Jan. 2, 2006.

TOKYO — Tokyo Broadcasting System, a major Japanese TV network active in film production, has revealed plans to invest, with Asmik Ace Entertainment and Cinema Investment Corp., in “Trapped Ashes,” a new anthology film by helmers Sean Cunningham, Monte Hellman, Ken Russell, Joe Dante and John Gaeta, through a limited liability partnership.

TBS and its partners are the first local film producers to take advantage of a new law permitting the formation of LLPs that went into effect in August.

Compared with other types of incorporation in Japan, LLPs offers not only limited liability, but certain tax advantages and greater flexibility in decision-making and asset management.

TBS is coming off a good year, with “Nana,” a female buddy movie based on a hit comicbook, grossing north of $30 million. The net also was responsible for “Be With You,” a weepy drama that grossed $41 million in 2004.

Asmik Ace Entertainment is a major indie distributor of both Japanese and foreign films. Among its releases this year are “Madagascar” (gross: $19.2 million), “Shark Tale” ($16 million), “Lemony Snicket’s A Series of Unfortunate Events” ($7.6 million), “Danny the Dog” ($3 million) and “Ring 2” ($2.6 million).

Tokyo-based Cinema Investment Corp. offers content marketing, financing and management services, specializing in films. Among its recent initiatives is the Independent Film Fund, a Y2 billion ($17 million) fund to support indie filmmakers launched in April with money from the Organization for Small & Medium Enterprises & Regional Innovation and the Kadokawa Trust of Fund for Publishing & Film Business Promotion.

Want to read more articles like this one? SUBSCRIBE TO VARIETY TODAY.
Post A Comment 0

Leave a Reply

No Comments

Comments are moderated. They may be edited for clarity and reprinting in whole or in part in Variety publications.

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

More Film News from Variety

Loading