Relativity, SAIF & IDG Chinese Partnership, Sky Land, Begins Production on its First Joint Venture Film, 21 and Over
(Beijing, China) October 27, 2011 – Relativity Media’s 21 and Over is the first project made and co-financed in partnership with Sky Land, the production and distribution entity run by Relativity Media, SAIF Partners and IDG China Media. This venture recently announced a strategic alliance with Huaxia Film Distribution Company, one of the official distribution agencies of the government.
The hilarious comedy, 21 and Over, stars an up-and-coming cast including Miles Teller (Footloose), Justin Chon (The Twilight Saga), Skylar Astin (Taking Woodstock) and Sarah Wright (The House Bunny). The script was written and directed by successful comedy writers Jon Lucas and Scott Moore, whose writing credits include The Hangover. The film is about two childhood friends who drag their straight-arrow buddy out to celebrate his twenty-first birthday the night before an all-important medical school interview. But when one beer leads to another, the evening spirals into a wild epic misadventure of debauchery and mayhem that none of them will ever forget.
Joining Mandeville Films’ David Hoberman (The Fighter) and Todd Lieberman (The Fighter), are producers on the film, Andy Yan of SAIF and Hugo Shong of IDG. The Relativity and Sky Land production is being made in association with Sir Richard Branson’s Virgin Produced (Limitless). In addition to previous footage shot in Seattle, Washington, filming locations include Linyi, a city in the south of Shandong province. Principal photography on scenes in China began shooting in Linyi on October 26, 2011.
Party Secretary of Linyi Municipal Committee of the Chinese Party of Communism (CPC), Zhang Shajun, whose position is directly above the Mayor, said “Linyi is a beautiful city and we welcome international filmmakers to come to Linyi to make beautiful worldwide films, and particularly welcome my good friend Ryan Kavanaugh and his great company Relativity to be shooting in our historic city. We promise to provide the best service possible in order to help make the movie successful worldwide.”
This will mark the first of many projects that Relativity plans to shoot and do post-production work on in China.
Tucker Tooley, Relativity’s Co-President said, “We are delighted that Sky Land have come immediately aboard as a partner. They loved this hysterical film and it’s gratifying they want to build a foundation immediately alongside our cast and crew. We are very much looking forward to shooting in China, especially in a place as amazing as Linyi.”
Sky Land is a fully-funded, vertically-integrated film and multimedia production, distribution and financing company. It was previously jointly owned and controlled by SAIF Partners, a leading Asian Private Equity Firm, and IDG China Media, a China-focused investment arm of Boston-headquartered International Data Group. Relativity Media joined as an equal owner as part of their new endeavor and business plan to develop, produce, distribute and acquire Chinese material that also possesses worldwide appeal. The strategic alliance announced with Huaxia makes this joint venture the first and only government sanctioned pact. Huaxia is the largest distributor of film in China and one of the most respected film companies in the country releasing such titles as Twilight Saga: Breaking Dawn - Part 1, the Harry Potter franchise, Transformers, Kung-Fu Panda, Fast Five, Prince of Persia: The Sands of Time, 2012, Alice in Wonderland and Sherlock Holmes.
Sky Land also oversees and is partnered with a China-based RMB fund to co-invest in local film and television content and production, which is the equivalent of $100 million US dollars. Most recently, it co-produced Snow Flower and the Secret Fan, inspired by the worldwide best-selling novel by Lisa See, with screenplay penned by Academy Award® winning writer Ron Bass (Amelia) and directed by Wayne Wong (The Joy Luck Club).
ABOUT RELATIVITY MEDIA, LLC
Relativity Media is a next-generation studio engaged in multiple aspects of entertainment, including full-scale film and television production and distribution, the co-financing of major studio film slates, music publishing, sports management and digital media. Additionally, the company makes strategic partnerships with, and investments in, media and entertainment-related companies and assets.
To date, Relativity has committed to, produced and/or financed more than 200 motion pictures. Released films have accumulated more than $16 billion in worldwide box office receipts. Relativity’s recent films include: Cowboys & Aliens, Bridesmaids, Hop, Limitless, Battle: Los Angeles, Season of The Witch, Little Fockers, The Fighter, The Social Network, Salt, Despicable Me, Grown Ups, Dear John, It’s Complicated, Couples Retreat and Zombieland. Upcoming films for Relativity include: Shark Night 3D, Machine Gun Preacher, Immortals, and Anonymous. Thirty-seven of the company’s films have opened to No. 1 at the box office. Relativity films have earned 60 Oscar® nominations, including nods for The Fighter, The Social Network, The Wolfman, Nine, A Serious Man, Frost/Nixon, Atonement, American Gangster and 3:10 to Yuma. Fifty-eight of Relativity’s films have each generated more than $100 million in worldwide box-office receipts.
Relativity also owns and operates Rogue Pictures, a company that specializes in films targeted to the 13-25 year old audience, and RogueLife, Relativity’s digital studio which is developing original content for the Web and creating sustainable online platforms and communities. RelativityREAL, Relativity’s television arm, has 67 projects in production, including 17 original series that are currently airing or will air in the upcoming television season including Police Women for TLC, Coming Home for Lifetime and The Great Food Truck Race for Food Network.
About SAIF Partners
SAIF Partners is a leading Asian private equity firm, with dedicated local offices in China and India. SAIF currently manages over US$3.5 billion.
SAIF makes privately negotiated equity or equity-linked investments across several growth sectors such as consumer products & services, technology, media, telecom, financial services, healthcare, travel and tourism, and manufacturing. SAIF focuses its efforts primarily on China (including Hong Kong and Taiwan) and India.
With a team of investment professionals located in Hong Kong, China (Beijing, Shanghai, Changzhou, Harbin) and India (Delhi), SAIF is an active lead investor working closely with our portfolio companies to develop their business both organically and through acquisitions, seeking synergistic cooperation among them, as well as enhancing shareholder value via promotion of good corporate governance and best management practices.
SAIF's success is based on deep relationships built by its senior investment professionals and its Strategic Partners with entrepreneurs, business leaders and government authorities in the region. Almost all of SAIF's senior investment professionals have lived and worked for substantial portions of their careers in the region. In addition, they have experience in initiating investment opportunities, structuring and negotiating acquisitions, and working actively with portfolio company management teams to maximize investment returns. SAIF has formed a cohesive pan-regional team of investment professionals who possess an ideal combination of private equity experience, international business exposure and local economy grounding.
SAIF’s relationship with its entrepreneurs is built on a shared commitment to excellence. To that end, we are actively involved in our portfolio companies, whether it is recruiting members of a management team, making business development introductions, negotiating deals, finding strategic partners, generating sales leads, or developing new product or business ideas. Our partnership works as a team, bringing on board an array of skill sets, experience and connections. We pride ourselves for the excellent relationships that we have established with our portfolio companies.
For press inquiries, please contact: Nikki Yang (Tel: 86-10-65630353)
About IDG China Media
IDG China Media is an investment arm of Boston-based International Data Group (IDG), the world leading IT publishing, market research, tradeshow and conference company with a total revenue of US$3.16 billion in 2010.
IDG is the first American technology information service company entering the Chinese market. Since the founding of Computerworld weekly, a Sino-US joint venture, in 1980, IDG has over 30 magazines and newspapers in the fields of computer technologies, electronics and telecommunications by means of joint venture or cooperative publishing in China. Annually, it holds over 18 expositions on computer, electronics and telecommunications in China and 60 conferences for overseas major producers in technology and consumer industries. International Data Corporation (IDC), a wholly-owned division of IDG, which is engaged in IT market research and forecast, has its R&D centers in Beijing, Shanghai and Shenzhen.
In 1998, IDG established a joint-venture partnership with The Hearst Corporation, the largest consumer magazine publishing company in the US. The IDG-Hearst partnership successfully launched Cosmopolitan China, Harpers’ Bazaar China and Good Housekeeping China with Trends Media Group, along with similar titles such as National Geographic China, and National Geographic Traveler China of National Geographic Society, Modern Bride of Conde Nast, Men’s Health China of Rodale, and FHM China of EMAP in UK.
IDG launched its venture capital business in China in 1993 with a US$20 million fund, the first US venture capital ever to be formed in the country, which was to become the leading investment firm in China with US$3.8 billion under management as of today. Its investments focus on leading companies in technology, new media and telecommunications (TMT), consumer goods and services, medical and pharmaceutical, culture and tourism, new energy and environmental materials sectors. It has invested in over 200 outstanding diverse companies, including Sohu, Baidu, Ctrip, Soufun, Tencent, Kingdee, Dangdang, Wu-Mart, Home Inn and Hanting Hotels.
For press inquiries, please contact: Karen Ren (Tel: 86-10-65262202)