Mexico's Canana, IM Global Form Joint Venture

MEXICO CITY -- Mexican shingle Canana and finance/sales agent IM Global have launched joint venture Mundial, a new company dedicated to international sales of Latin American cinema. 

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Mundial will handle international sales for eight to 10 Latin American titles per year. The company has picked up three films thus far: Mariana Chenillo's Paraiso, which begins shooting in January; Cannes winner Michael Rowe's new film Manto Acuifero; and Mr. Pig, Diego Luna's fourth work as a director. 

Luna, along with fellow actor Gael Garcia Bernal and producer Pablo Cruz, are co-founders of Canana. Under the agreement, Mundial will handle Canana productions.

The upstart will make its official launch at Berlin's European Film Market in February and will have an unofficial presentation at the Ventana Sur market in Argentina, which kicks off Friday. 

Mundial's board comprises IM Global CEO Stuart Ford, Canana executives Cruz and Julian Levy, and IM Global's president of international sales and distribution, Jonathan Deckter.