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http://www.newsmax.com/archives/articles/2007/4/9/150938.shtml?s=en
Salma Hayek, MGM to Produce Latin-themed Films
NewsMax.com Wires Tuesday, April 10, 2007
LOS ANGELES -- Mexican actress and producer Salma Hayek and
Metro-Goldwyn-Mayer Inc. said Monday they agreed to form a film company
specializing in Latino movies appealing to wider, mainstream audiences.
The company, Ventanazul, will be housed at MGM and be a partnership between
the Hollywood film and television studio and Hayek, Oscar nominated for her
movie "Frida" and producer of hit TV show "Ugly Betty." Financial details
were undisclosed.
Ventanazul plans to make or acquire independent movies, and hopes to
distribute two to four films a year that draw on Latin themes, feature
Latino or Latina actors and cross over to mainstream audiences for broad,
box office appeal.
"We want these movies to appeal to everyone, but we also hope to make Latino
audiences proud," Hayek said.
As examples, Hayek pointed to "Frida," a film about Mexican artist Frida
Kahlo which performed modestly well at art-house box offices, and to "Ugly
Betty," which tells of young Betty Suarez, a fish-out-of-water working at a
fashion magazine.
Hayek will serve as president and chief executive officer of Ventanazul and
her producing partner, Jose Tamez, will be president of production.
The deal follows last year's widely touted film partnership between MGM,
actor Tom Cruise and his producing partner, Paula Wagner, to re-establish
the United Artists production company.
MGM is controlled by private equity firms Providence Equity Partners and
Texas Pacific Group. Sony Corp. of America and cable company Comcast Corp
hold large stakes, as do DLJ Merchant Banking Partners and Quadrangle Group.
Salma Hayek, MGM to Produce Latin-themed Films
NewsMax.com Wires Tuesday, April 10, 2007
LOS ANGELES -- Mexican actress and producer Salma Hayek and
Metro-Goldwyn-Mayer Inc. said Monday they agreed to form a film company
specializing in Latino movies appealing to wider, mainstream audiences.
The company, Ventanazul, will be housed at MGM and be a partnership between
the Hollywood film and television studio and Hayek, Oscar nominated for her
movie "Frida" and producer of hit TV show "Ugly Betty." Financial details
were undisclosed.
Ventanazul plans to make or acquire independent movies, and hopes to
distribute two to four films a year that draw on Latin themes, feature
Latino or Latina actors and cross over to mainstream audiences for broad,
box office appeal.
"We want these movies to appeal to everyone, but we also hope to make Latino
audiences proud," Hayek said.
As examples, Hayek pointed to "Frida," a film about Mexican artist Frida
Kahlo which performed modestly well at art-house box offices, and to "Ugly
Betty," which tells of young Betty Suarez, a fish-out-of-water working at a
fashion magazine.
Hayek will serve as president and chief executive officer of Ventanazul and
her producing partner, Jose Tamez, will be president of production.
The deal follows last year's widely touted film partnership between MGM,
actor Tom Cruise and his producing partner, Paula Wagner, to re-establish
the United Artists production company.
MGM is controlled by private equity firms Providence Equity Partners and
Texas Pacific Group. Sony Corp. of America and cable company Comcast Corp
hold large stakes, as do DLJ Merchant Banking Partners and Quadrangle Group.
