Haim Saban is expanding his empire.
The entertainment mogul’s Saban Capital Group has launched Saban Films, a distribution company that plans on acquiring eight to ten feature films per year for North American distribution.
In a statement, Saban said: “I have a long-standing and deep affection for independent film and saw an opportunity in the theatrical distribution arena as well as an emerging distribution platform strategy that focuses on cable, satellite, and telco VOD. Film is a natural progression for Saban Capital Group with existing interests already in television, media and brands.”
The billionaire producer of Power Rangers, Masked Rider, VR Troopers and Big Bad Beetleborgs is planning on partnering with a major studio, though which has not yet been decided.
Bill Bromiley has also been announced as the new company’s president.