Breakthrough, Dutch Features Board Kristofferson Pic ‘Joe’s Mountain’
Toronto-based Breakthrough Entertainment has joined with Dutch Features Global Entertainment to co-executive produce Joe’s Mountain, starring Kris Kristofferson. Dutch Features will team with Breakthrough to secure European distribution partners for the film to be directed by Chuck Rose, who also wrote the script. The producers say they are in discussions to cast Helen Hunt opposite Kristofferson, who plays a former ladies man who becomes a local celebrity when his dreams of future events start coming true. His powers are put to the test when he meets a younger woman and her dying son and embarks on a road trip to find a mysterious lake that will change their lives. Production will take place in Canada. Henry Boger produces.
A+E Networks Assumes Full Control of AETN All Asia Networks
A+E Networks has concluded a transaction with Astro Overseas Limited to assume full ownership of AETN All Asia Networks, the Singapore-based company formed as a joint venture in 2007. AETN All Asia Networks will be rebranded as A+E Networks Asia. “The transition to full ownership of A+E Networks Asia is a first for our company and marks an important milestone,” said A+E president and CEO Nancy Dubuc. The announcement comes on the heels of the recent launch of Lifetime and H2 in the region. A+E Networks Asia also operates History, Crime & Investigation Network and bio in the region.
South Africa’s Naspers Eyeing $1B Debt Sale To Fund Acquisitions
UPDATE: Africa’s largest media company, Naspers Ltd., has sold $750M of seven-year debt in the region’s first overseas corporate bond sale in two months, Bloomberg reports. The news agency earlier said the company was mulling selling as much as $1B in debt to fund acquisitions. Naspers has stakes in China’s biggest Internet company Tencent and Russia’s social media and gaming provider Mail.ru Group. The company embarked on a bond road show July 8 to gauge investor appetite. The Cape Town-based outfit would use the proceeds for “future acquisitions and the repayment of existing credit facilities,” the company said in a July 2 filing. It is understood to be eyeing overseas assets.
Slovak Ministry of Culture Weighs 20% Tax Rebate
The Slovak Ministry of Culture is eyeing a production tax credit to come into effect in January. The 20% rebate would be available based on a cultural test and a requirement of at least 2M euros of local spend in Slovakia. A proposal to be entered on July 15 suggests no cap on the rebate funds available, and that filmmakers can request the rebate at any time. According to Film News Europe, eligible projects would include feature films over 70 minutes in length and TV series of over 40 minutes in length.