Cube Vision, Ice Cube’s Film production company, has entered into a strategic partnership with AID Partners, a media investment company founded by Hong Kong entrepreneur Kelvin Wu whose other investments include Legendary Pictures and Golden Harvest Entertainment, among others. The deal is said to be in the 8-figure range and establishes Cube Vision as a major buyer of original content and allows them deep pockets to develop its own slate, hire its own screenwriters and then bring fully developed projects to studios — thereby bypassing the studio development hell process. Ice Cube, who had a major critical and box office hit with Straight Outta Compton, is one of the few brands in the entertainment business.
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The deal, said to be modeled after the Good Universe strategy, calls for AID Partners to become a significant shareholder, strategic advisor, and an investor who fully funds targeted Cube Vision development projects. The announcement was made today by Cube Vision CEO and President Ice Cube and COO Jeffrey Kwatinetz as well as Kelvin Wu, Chairman and Founder of AID Partners.
As part of the deal Ice Cube and Kwatinetz remain Cube Vision’s majority shareholders with complete creative control of material and projects. The strategic funding allows Cube Vision to finance projects at the development stage. AID Partners has the option to expand its investment and relationship. AID also is an investor in Prime Focus Double Negative, HMV Digital China and Zoox Inc.
Centerview Partners introduced the parties and advised AID Partners on the transaction. Kwatinetz advised and negotiated the deal on behalf of Ice Cube and Cube Vision. Matthew Johnson of Ziffren Brittenham LLP represented Cube Vision, and Michael Eisner of Eisner Jaffe also handled negotiations on the deal.
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