K-L to bow Spanish pic cable net

Pact with Cerezo to create Gran Canal Latino

MIAMI — Kushner-Locke has formed a joint venture to launch a Spanish-lingo film channel for Latin America and U.S. Hispanic markets.

Deal has K-L pacting with Spanish distrib and TV investor Enrique Cerezo, owner of one of the world’s largest Spanish-language libraries, to launch Gran Canal Latino this November.

Cerezo’s archive includes more than 3,000 classic and recent Spanish titles, which will be supplemented by acquisitions from Latin America and Europe.

K-L will provide financing for the channel and will split the revenues with Cerezo after recouping its investment.

Chief exec Donald Kushner told Daily Variety that K-L has many relationships with Latino pay TV players — thanks to film sales made in the region — which will aid the securing of carriage deals.

Arturo Feliu, prez of K-L’s Latino arm Phoenix World Intl., will oversee the channel’s development and launch.

“I think the library is worth $75,000 per title over a seven-year cycle and will appeal to audiences in all countries throughout Latin America and Spanish-speaking segments of the United States,” Feliu said.

Gran Canal Latino, a basic-tier channel, will find itself competing with several other Latino film nets, including Televisa-owned Corte Latino, CineLatino from Mexican paybox Multivision, and several Argentine and Brazilian webs.