CP Media and 2&2 Productions have launched a $100 million new joint venture whose first project is to expand film and TV production in Columbia. Their first project will provide U.S. producers with upwards of 50% of financing for feature films or long-form TV movies shot in Columbia. “This is the most attractive incentive out there,” said CP Media CEO Sam Azar. “It’s not a tax credit or a rebate. This is dollar-for-dollar matching for productions filmed in Colombia.” CP Media is a subsidiary of Miami-based development company CP Group which handles cooperative ventures between Latin American and U.S. businesses. 2&2′s credits include Latin editions of American Idol, Project Runway and Sesame Street. “Even without an incentive” Colombia is a popular location, said 2&2 Production VA Daniel Garcia Mendoza. CP Group is the featured construction company on the HGTV show Urban Oasis and hopes to increase potential for tie-ins.
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This article was printed from http://www.deadline.com/2012/11/afm-cp-media-launches-movie-tv-incentive-for-colombia/