'Titanic 3D' First Studio Title Destined for Burma in Decades
20th Century Fox has struck a licensing agreement with the Mingalar Co., the largest exhibitor in the Southeast Asian country.
Twentieth Century Fox will become the first Hollywood studios in decades to release a film in Burma. The first title is James Cameron's 3D rerelease of Titanic, which opens Aug. 17.
Fox will distribute its films the Southeast Asian country through a licensing agreement with the Mingalar Company, the largest film exhibitor in Burma (also known as Myanmar).
Twentieth Century Fox International co-presidents Tomas Jegeus and Paul Hanneman said the company is "proud to be a pioneer in emerging markets and to be working with local businesses to further develop these endeavors.
"In recent years, we have entered markets such as Vietnam, Cambodia, Mongolia and Papua New Ginea. We have noted with great interest the reforms taking place in Burma under Thein Sein and look forward to visiting our newest territory when we travel to Asia later this year," the duo said.
Fox said Titanic 3D was a fitting choice to usher in the new arrangement. Both the original 1997 film and the 3D rerelease have been international blockbusters, bringing the film's worldwide total to $2.19 billion.
Mingalar, a general trading and import/export business, opened its first cinema in Burma in 1995 and now operates eight, single-screen theaters. The company controls more than 80 percent of the domestic film exhibition market and 90 percent of the foreign film exhibition market.