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.
For the fourth consecutive weekend, “Frozen 2” remained as the box office champion in South Korea. The Walt Disney release earned $6.55 million from 896,000 admissions between Friday and Sunday and accounted for 42% of the total weekend box office. It has now earned a total of $85.9 million from 12.1 million admissions after four [...]
U.K.-based Cineworld is to acquire Cineplex, Canada’s leading cinema chain, in a deal that values the Toronto-listed company at $2.1 billion (C$2.8 billion) and puts Cineworld in position to become North America’s biggest exhibitor. Cineworld said Monday that it had secured unanimous approval from its board of directors for the acquisition, and that its leading [...]
Variety has been given exclusive access to the Imax trailer, dubbed into English, to Fedor Bondarchuk’s sci-fi actioner “Invasion,” the sequel to his 2017 blockbuster “Attraction.” In the first film Moscow becomes the battleground for all-out war against an army of alien invaders. In the sequel, an alien spaceship crash lands in Moscow, and an [...]
Locally made films “Sheep Without a Shepherd,” “Skyfire” and “Gone With the Light” dominated weekend takings at the mainland Chinese box office. Hollywood’s holdovers were consigned to the lesser rankings. “Sheep Without a Shepherd” is a remake of 2013 Indian thriller “Drishyam” and tells the story of a man trying to cover up for his [...]
“Once Upon a Time in Hollywood,” “Dolemite is My Name,” and HBO’s “Ballers” are among the winners of this year’s COLA awards. The COLAs recognize location managers, public employees and other professionals who help facilitate on-location production across the Golden State. This year’s awards program was held at the Universal Hilton. Finalists and winners are [...]
With the passing of Anna Karina, a curtain has fallen on the French New Wave, that fabled cinematic movement that brought fame to the man who made her name, Jean-Luc Godard. Yes, Godard is still with us, as is “Breathless” star Jean-Paul Belmondo (practically the last of the living New Wave legends), but his moviemaking [...]
Clint Eastwood might end up with a lump of box office coal after “Richard Jewell” sputtered in its domestic debut. Despite critical acclaim, Warner Bros.’ drama about the security guard falsely accused by the media for playing a part in the 1996 Olympics bombing ignited with a dismal $5 million from 2,502 theaters. It’s a [...]