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LOS ANGELES – June 5, 2012 – Twentieth Century Fox International Theatrical (Fox International) and Warner Bros. Pictures International today announced the creation of a joint operation between their local companies in Brazil to distribute and market their respective film slates and cultivate new opportunities for high quality entertainment in this rapidly emerging market. The announcement was made by Veronika Kwan Vandenberg, President, International Distribution, Warner Bros Pictures, and by Paul Hanneman and Tomas Jegeus, co-presidents of Fox International.
Fox and Warner Bros. will remain separate legal entities in Brazil but will share their resources through the joint operation, called Fox- Warner, to maximize the potential of the country’s growing economy. Fox-Warner will commence operations immediately. Patricia Kamitsuji, currently General Manager pf Fox Brazil, will serve as Managing Director of Fox-Warner.
“Warner Bros. Pictures is thrilled to be entering this new chapter at this exciting time in Brazil,” Kwan Vandenberg said. “We have enjoyed our successful partnership with Fox in various other countries and look forward to expanding upon it to further develop the business and meet the demands of the rapidly growing Brazilian market.”
“Brazil’s strong economy and growing demand for quality entertainment offers us a fantastic opportunity to take the local entertainment industry to new heights,” added Hanneman and Jegeus. “Sharing our resources and talent with Warner Bros.’ organization is the best way to open up new possibilities and further develop the Brazilian market.”
Twentieth Century Fox International is a unit of Fox Filmed Entertainment, a segment of Fox Entertainment Group. Warner Bros. Pictures International, a Division of Time Warner, operates offices in 24 countries and releases films in over 120 international territories.
Warner Bros Pictures & Fox International Join Forces in Brazil
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I am Brazilian and I follow the growth, and their role in international equity markets, and this junction is of great interest to the Brazilian market. This junction between Fox and Warner Bros. Movies in Brazil is very important. These two companies in Brazil have the largest amount of channels available on subscription TV package in Brazil. In Brazil Warner and Fox were together responsible for more than fifty per cent in profit at the box office in theaters. In numbers, we see a great fusion of results for businesses and for the viewers (in the case of rights to broadcast television and subscription), and the audience of Brazilian cinema.
Oh great, just what we needed, an even more monopolized market than we already have, contributing to the almost complete lack of funding for local productions.
Thank you, Hollywood execs.
Sounds like a cost cutting initiative…..”combined resources”…..does not mention WB’s managing director…..only Fox’s
Great media consolidation goes global. Because it’s been SOOOO good for the US.
Brazil will see local companies shut out, the big guys will buy off the politicians to legalize the takeover of their national broadcasting infrastructure, and before long they’ll have nothing but portuguese-dubbed American content.
Is anyone seriously going to argue with the fact that NO American company would ever make City of God. Only Brazil had the guts to make that film. Worse these US conglomerates will work to stop such works from being made, the same way corporate censorship has stopped it in the US.
Ten years from now they’ll be talking about how Brazil USED to have their own media, but their government sold them out and let them become a wholly-owned subsidiary of Fox and Time Warner.
Absolutely disgraceful.
Unfortunately I agree whith you, that’s de real truth, see the fox television rates in Brazil in 2012