As reported in Hong Kong’s South China Morning Post, Celestial Movie Channel Limited and Tiger Gate Entertainment Limited have formed a joint venture to create Celestial Tiger Entertainment Limited, an independent Asian media company focused on branded pay TV channels, content creation and distribution across Asia.
The transaction was announced on December 22 in a press release jointly issued by Celestial Pictures Limited, the wholly-owned subsidiary of Paul, Weiss’s client The Astro Group, Saban Capital Group and Lionsgate. The operations of Celestial Movie Channel Limited, the wholly-owned subsidiary of Celestial Pictures, will be merged with the operations of Tiger Gate Entertainment Limited, which is owned by Saban Capital Group, Lionsgate and certain management members.
The Paul, Weiss team for this transaction included Hong Kong-based corporate partner Jeanette K. Chan.
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