10-10-2007: Genting International, ‘Survivor’ creator to develop reality shows for Asia
KUALA LUMPUR: Genting International plc is teaming up with Mark Burnett International, which produces the television blockbuster series such as “Survivor” and “The Apprentice”, to develop reality TV series and game shows for Asia.
Genting International managing director Justin Tan Wah Joo said that under the 10-year exclusive partnership, both parties would invest as much as US$20 million (RM68 million) in a new joint venture company — Mark Burnett Productions Asia (MBPA).
Both parties will hold equal equity stakes in MBPA.
“This partnership covers all of Asia except Japan and the Middle East, and will herald the age of new exciting television content for Asia excluding Japan and the Middle-East,” he said.
Mark Burnett International produces TV blockbuster series including “The Contender” and “Rockstar”. The Asian headquarters will likely be based at the Resorts World at Sentosa (RWS) in Singapore, a multi-billion ringgit mega resort being built by Genting International and opens in 2010.
Tan said MBPA would use RWS’ facilities and resorts attractions for some of its productions. MBPA will hold the exclusive licence to produce and distribute these programmes to multiple media platforms ranging from broadcast, the Internet to mobile television.
“The new company will also develop original TV shows for Asia that will be licensed for format productions throughout the world,” he said.
He did not expect the transaction to have any material impact on the consolidated net tangible assets and earnings per share of the company for the financial year ending Dec 31, 2007.