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28/11/2000

JOINT VENTURE FORMS 'UNION 175' PARTNERSHIP

UK-BASED West 175 Media Group and Union Pictures have announced the formation of a joint venture company to develop, produce, and distribute television programmes in the UK and for sale worldwide.
Under the terms of the agreement, the new joint venture company called Union 175 will be 50 per cent owned by Union and 50 per cent owned by West 175.
The joint venture anticipates that West 175 will either provide the funding of the £2 million for development costs over the next three years or alternatively procure the funds from third party sources, allowing the new partnership to compete at the top level in the market place.
The new venture provides West 175 with immediate entry into UK TV programme production. By joining an established production set-up West 175 have entered the market in a position which would otherwise take years to develop.
Rohan Courtney, Chairman of West 175, said: “We are delighted to have the opportunity to work with Union Pictures, which has a formidable reputation in television production. We will benefit from the long established contacts developed by Union Pictures and their other company, Natural Nylon, in the UK and globally, and with the joint skills of both West 175 and Union Pictures, we expect to develop a range of programmes for screening in the UK and worldwide. Between Union 175, Ninox 175, and West 175 Productions we will have s world-class production capability second to none.”
West 175 and Union will each have two directors on the Board of Union 175. West 175 Chairman, Rohan Courtney, will be Chairman and John McEwen, the Group’s Chief Executive, has been nominated by West 175. Union Co-founder Bradley Adams and Tony Miller, their Chief Operating Officer, will be Union Pictures representatives.
Based in Surrey, West 175 are a worldwide media company specialising in all aspects of broadcasting, programme production, merchandising, publishing and live events.
(CD)
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