Lionsgate, Saban team with Celestial in Asian JV -

Lionsgate, Saban team with Celestial in Asian JV

HONG KONG (AP) -- Hollywood independent studio Lionsgate and U.S. media investment firm Saban Capital are teaming up with a Malaysian-owned TV and film company in a joint venture to tap the expanding Asian entertainment market.

Lionsgate, Saban and Celestial Pictures said Thursday the new company, Celestial Tiger Entertainment, will mainly operate pay television channels. Saban is contributing a "significant capital investment" that it did not disclose.

Lionsgate's productions include the hit TV series "Mad Men" and recent films such as "Margin Call" and "The Expendables."

Saban is best known for licensing the Power Rangers from Japan in the 1990s.

Celestial Pictures is owned by Malaysian pay-television operator Astro Holdings.

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