Friedland’s Ivanhoe Capital Corp. provided the founding venture capital for U.S.-based Sirius Satellite Radio, which went on to build SiriusXM. The venture was announced on Sunday during the Toronto Film Festival.
Ivanhoe will work on films in America and Asia, focusing on China, India, Korea and Japan. It will be based in Hollywood with offices in Beijing and New York.
Friedland is chairman and Penotti is CEO while Chen serves as exec VP.
Friedland has invested via his Ivanhoe Capital Corp. in more than 50 countries during the past 25 years, including Sina.com in China.
Penotti has produced more than 30 movies via GreeneStreet Films, including “In the Bedroom,” “A Prarie Home Companion” and “Swimfan.”
Chen previously served as founder and chairman of Beijing Premiere Media Co.
News was first reported on the Deadline.com site.
Popular on Variety
Dwyane Wade On Supporting His Son at Pride: 'This is My Job As a Father'
'Pose' Cast Explains Why Pride is Important in 2019
Behind the Scenes at Variety's Power of Pride Cover Shoot
Janet Mock on Netflix Deal: 'I Never Thought That I Would Be Embraced'
Comedy Showrunners on the Impact of the WGA Staffing Boost
Showrunners on the Realities of Writing: ‘It’s A Continual Cycle of Panic and Fear, It’s Super Fun’
Chris Hemsworth Responds to the 'Avengers: Endgame' Fat-Shaming Thor Controversy
Hilary Duff and Sutton Foster Proud That 'Younger' Flaunts Women's Careers Over Romance
'Deadwood' Designer Janie Bryant Used Original 1880s Dress for HBO Movie
'Big Little Lies': Can Season 2 Live Up to the First?
In today’s film news roundup, “The King’s Man” and “A Kid From Coney Island” get release dates, and “Barry” star Anthony Carrigan joins “Bill & Ted Face the Music.” RELEASE DATE Disney has set its Fox spy comedy prequel “The King’s Man” for release on Feb. 14, 2020. Disney made the announcement Wednesday at its [...]
The bombastic English title might sound like it describes some comic book sci-fi epic, but in “Shyrakshy: Guardian of the Light” our hero does not wear a cape but a weathered cap, and the light he guards is not an interstellar death ray but the flickering beam of a battered old movie projector. Prominent Kazakh [...]
The soundtrack for the introductory showreel at Wednesday evening’s Shanghai press event announcing Wanda Pictures’ annual line-up was aspirational and strangely defiant. It began with Nina Simone crooning, “It’s a new dawn, it’s a new day, it’s a new life for me, and I’m feeling good,” and then continued with “Survivor” by Destiny’s Child. “You [...]
Set against the backdrop of London’s early-1980s cultural renaissance, British auteur Joanna Hogg’s exquisitely sculpted and critically acclaimed “The Souvenir,” which A24 has been widening in platform release for the past month, follows film student Julie (Honor Swinton Byrne) and her gradually destructive romance with the magnetic Anthony (Tom Burke). “We didn’t want a film [...]
A crew member has been stabbed in the neck on the set of Anne Hathaway’s “The Witches” remake, which is being shot at the Warner Bros. Studios stages in Leavesden, Hertfordshire. The Hertfordshire Constabulary said in a statement that the victim was hospitalized and his alleged attacker was arrested. The two men are believed to [...]
Paramount Pictures and Jason Blum’s Blumhouse are teaming on a seventh “Paranormal Activity” movie. Paramount chief Jim Gianopulos announced the untitled project Wednesday during the studio’s CineEurope presentation in Barcelona. Plot details are also under wraps. The franchise was launched with 2007’s “Paranormal Activity,” a micro-budget film about a young couple who had who moved [...]
Steve Buscemi, Kevin Corrigan, Domenick Lombardozzi and Mike Vecchione have rounded out the cast of Universal’s untitled Judd Apatow comedy starring Pete Davidson. Marisa Tomei, Bill Burr, Bel Powley, Maude Apatow and Pamela Adlon had been previously announced. Apatow is directing from a script he co-wrote with Davidson and Dave Sirus. The film is a [...]