SEOUL — Stock market listed media group nTorino is emerging as a potential new player in South Korea’s always dynamic film distribution and exhibition sector. On the day following its acquisition of the Busan-based seven-screen theater Megaline on June 19, nTorino announced a $12.4 million purchase of the eight-screen Cinus Ansan theater and associated real estate. The firm reportedly intends to launch its own exhibition brand and is eyeing an entry into the distribution sector.
nTorino made its first splash internationally at this year’s Cannes Film Festival, where CEO Tornado Kang said the company had contributed $20 million of investment to the newly launched A3 Intl. Film Fund. Asia-targeted fund brings together key bizzers from China, Japan and South Korea including producers Iseki Satoru (“The Emperor and the Assassin”), Nansun Shi (“Infernal Affairs”), Boram Entertainment topper Lee Joo-ick, Poly Bona prexy Yu Dong and Jeffey Chan, former international sales chief of Media Asia.
For the Korean market, nTorino is already the main investor on a project featuring top stars Kwon Sang-woo and Song Seung-hun, and a company representative promises greatly increased activity in the future.