CJE to exclusively distribute Par in Korea
EmptyAs Paramount and Universal prepare to launch separate overseas distribution operations on Jan. 1 after unraveling their joint-venture United International Pictures, the new Paramount Pictures International announced Wednesday that it has completed a deal for CJ Entertainment to become the exclusive distributor of Paramount films in Korea.
Paramount's announcement follows one Monday by Universal Pictures International that the Korean branch of UIP, as of Jan. 1, will change to Universal Pictures International Korea (HR 11/28).
CJE, a diversified media and entertainment conglomerate, is a founding investor in DreamWorks, now an integral part of Paramount, and has been the exclusive distributor in Korea of films from DreamWorks and DreamWorks Animation.
"We are delighted to be entering into this distribution agreement with CJ Entertainment, Korea's leading entertainment company," said Andrew Cripps, president of PPI and outgoing president of UIP. "Their experience in distribution will be a great asset for Paramount going forward and will build on our proud history in this very important and growing market."