Abu Dhabi Media Company today announced the formation of a new company that will develop, finance and produce content for both the global and Arabic language markets. imagenation abu dhabi, a wholly owned subsidiary, intends to spend in excess of US$1 billion over the course of the next five years in the creation of both full length feature films and digital content.

From its base in Abu Dhabi, imagenation abu dhabi will enter into partnerships with high-profile USA-based and other international producers to develop and produce content for distribution throughout the world. The company's remit also extends to supporting Middle East filmmakers and Arabian film production.

The launch of imagenation abu dhabi is part of Abu Dhabi Media Company's strategy to become a worldwide leader in the production of content. Mohamed Khalaf Al-Mazrouei, Chairman of both imagenation abu dhabi and the Abu Dhabi Media Company notes that establishing a strong global media company is part of the emirate's strategic investment strategy: "Abu Dhabi has established itself as a major player in the global economy, as evidenced through recent activity in the energy, real estate and transportation sectors. Media is no different and Abu Dhabi Media Company is fulfilling its ambition to become a global player in the media industry."

Edward Borgerding, CEO of imagenation abu dhabi and Abu Dhabi Media Company says: "With imagenation abu dhabi, we are bringing Hollywood and the international production community to Arabia. Our aim is to make award-winning films which are commercially successful and appeal to audiences across the world.

"Our target output of eight films every year will make imagenation abu dhabi one of the world's top producers of feature films and establish Abu Dhabi as a leading centre for content creation," says Borgerding.

Stefan Brunner, Chief Financial Officer of imagenation abu dhabi concludes: "Our investment strategy is modelled on film financing vehicles used successfully in Los Angeles, New York and London. We believe our financial and operational structure is disciplined, sophisticated and modern and should deliver superior returns at both financial and creative levels."

Abu Dhabi Media Company is a vertically integrated media company created in 2007 as a public joint stock company from the assets of Emirates Media Incorporated. Abu Dhabi Media Company employs 1800 people across its operating units which include publishing, television, radio, digital media, distribution, and printing. The company is headquartered in Abu Dhabi with offices in Cairo, Dubai and Washington D.C.

© 2008 Al Bawaba (www.albawaba.com)