US-Israeli producer Arnon Milchan will sent up a content incubator in Israel with the Add Content agency. Milchan's New Regency Enterprises will invest in developing concepts submitted by Israeli creators to Add Content, which is owned by Yaron Lichtenstein and Hadas Mozes Lichtenstein.
Hadas Mozes Lichtenstein signed the deal in which Add Content will become Milchan's exclusive representative in Israel. Add Content's staff and New Regency representatives will assist on concepts submitted from the initial stages through production.
Milchan was represented in the deal by his daughter, Alexandra, a senior VP at New Regency, and by the agency's president and CEO, Brad Weston. Creative Arts Agency television packaging head Adam Berkowitz participated in the negotiations on the American side.
Milchan founded New Regency in 1994, a year after he produced "Pretty Woman" starring Julia Roberts and Richard Gere. Over the years, he has produced "Mr. and Mrs. Smith", "Free Willy", and "Fight Club", and other movies. Rupert Murdochs' 20th Century Fox has distributed New Regency's movies since 1998.
The new venture is Milchan's first activity in Israel since he decided to sell all his Israeli investments two years ago. Among other things, he decided to stop investing in Channel 10, where is he is a partner. He is currently in talks to sell his shares in the TV station, after announcing that he would not keep the stake if he was required to invest more money in it.
Weston said in response, "With the success of the TV series "Homeland" and "In Treatment" in the US, we're excited to begin working with Add Content. We consider the deal as a big step toward our return to the television business, and it will be gratifying that a large part of the productions at the content incubator with Add will reach the movie and TV industry in the US."
Hadas Mozes Lichtenstein said, "Our central objective is to bring the content of Israeli creators to the American audience. New Regency is the ideal partner for us to take this step. We're talking about a win-win cooperation for both parties."
Published by Globes [online], Israel business news - www.globes-online.com - on February 6, 2012
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