ImaginAsian Entertainment will receive a financial and content boost from Korean-based entertainment company Sidus Corp., the two companies announced Monday.
The deal, reported to be in excess of $20 million, will give ImaginAsian Entertainment financial capital to expand its U.S. basic cable and video-on-demand operations targeting the Asian-American community, as well as its ventures in theatrical movies, DVD, music and new media opportunities, according to Augustine SC Hong, chairman of ImaginAsian Entertainment.
Along with the ImaginAsian TV cable network, the company also operates The ImaginAsian Theater ImaginAsian Pictures ImaginAsian Home EntertainmentImaginAsian Radio and e-zine iaLink.
Sidus will also provide ImaginAsian with Asian-based content including feature films, dramatic series, music and live event performances for distribution in the U.S.
Hong, who was also named an outside board member of Sidus Corp. as part of the deal, said that the company is excited about the opportunity to work with Sidus.
