Singapore-based media group, August Media Holdings signed a deal to co-produce three animated series with Malaysian studio Funcel at MIPCOM this week. August Media Holdings will be responsible for development, finance, executive production and distribution of the properties while Funcel will handle the animation.
The project will receive an investment of $24 million and is expected to be funded in part through a Malaysian development grant.
CEO and Founder of August Media Holdings Jyotirmoy Saha noted, “This is an important step forward for both August Media Holdings and Funcel. Funcel brings to the table a great pool of talent that is characteristic of the Malaysian animation industry.”
Funcel CEO Azrul Hassani Baharom added, “The deal with August Media Holdings is a great step forward for Malaysian and Singaporean studios. We have a great deal in common and our philosophy at Funcel of quality, sincere, timely work will perfectly fit with the August Media Holdings international profile”.
A record number of Malaysian companies—over 70—attended this week’s MIPCOM market this week.