MUMBAI: Zuma Beach Entertainment has acquired ownership interest in a slate of film and television projects. A general acquisition agreement was signed on 6 February between Zuma and Westlake Productions. The interest acquired by Zuma from Westlake, in exchange for an equity interest in Zuma, shall represent the percentage ownership interest, in perpetuity, for a slate of projects.
Zuma acquired interest to the projects owned by Westlake, whose managing members and producers include Freddy Braidy, Nicholas Celozzi and Daniel Cannon. Details of each project will be announced chronologically corresponding to the production and release schedule of each respective project.
Zuma chairman and CEO Mark Savoy stated, “We are excited about the acquisition and the ability to bring profitable and tangible assets into Zuma. We feel that the slate that Freddy and Nicholas have lined up for 2008 and 2009 include projects that have the potential to be nominated and award winning.”
Braidy said, “We are equally excited to have entered into this working relationship with Zuma Entertainment and we are looking forward to a long and healthy relationship.”