Lionsgate, Saban, Celestial Form Asian Entertainment Co.

Law360, New York (December 22, 2011, 2:44 PM EST) -- Media and entertainment-focused private equity firm Saban Capital Group has partnered with Celestial Pictures Ltd. and Lionsgate Entertainment Inc. to create an Asian company that will combine the entities' existing pay television channels and develop new ones, the parties announced Wednesday.

The new company, called Celestial Tiger Entertainment, was established through a significant capital investment from Saban and designed to expand all three participants' Asian media footprint while they develop new products and complete more strategic acquisitions.

Financial details of the deal were not disclosed....
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