Japan Digital Contents Inc. has come up with a new way to acquire Hollywood movie copyrights.
JDC said Monday it has made a basic agreement with music and video producer Pony Canyon Co. to set up a special-purpose company through an intermediate corporation to run a fundraising scheme designed to acquire the copyrights of five movies from U.S. studio Spyglass Entertainment.
JDC is engaged in support services for digital content producers.
JDC said the five movies include "Sea Biscuit," considered a strong Academy Award candidate, "Shanghai Nights," the sequel to 2000's "Shanghai Noon," both of which star Jackie Chan, and the spy thriller "The Recruit."
Beginning with the Nov. 15 release of "Shanghai Nights" at cinemas nationwide, JDC and Pony Canyon will promote business plans under the deal, which includes domestic sales of video and DVD software as well as TV broadcast rights.
Under the fundraising program, JDC and Pony Canyon will invest in the special-purpose company, which will also receive syndicated loans from financial institutions.
The company will use the proceeds from relevant businesses for such purposes as repaying loans and paying interest and dividends.
In the Japanese entertainment industry, acquisitions of Hollywood movie copyrights have usually been made through a voluntary partnership entity formed by the businesses involved, according to JDC.
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