Participant Media Buys into Cineflix Media

LOS ANGELES: Participant Media has picked up an equity stake in Cineflix Media, with the two set to partner on the creation, development and production of original programming for television.

Last week Participant announced it was creating its own TV division, tapping Evan Shapiro to lead the unit. The company also recently unveiled that its digital arm, TakePart, is planning to debut a new impact-oriented channel on YouTube this summer.

Cineflix currently produces more than 400 hours per year across scripted and nonscripted genres. The company recently expanded its New York and U.K. operations and opened a post in Los Angeles.

“Cineflix has grown over the past decade from an independent production start-up to an international media corporation, and our investment in this innovative company provides Participant with the talent and creative resources to expand our business into television,” said Jim Berk, Participant Media’s CEO. “Co-CEO’s Glen and Katherine share our interest in developing content which inspires and, with Participant’s investment and long-term commitment, Cineflix is poised to continue its rapid growth.”

“This is a fantastic opportunity for Cineflix not only as a business but as a creative organization,” added Glen Salzman, Cineflix Media’s co-CEO . “For a company that is proud of its independence, finding the perfect strategic partner was key for Katherine and I. Combining Participants’ strategy to expand into television with Cineflix’s ability to create and distribute quality programming, makes this partnership a perfect fit. We’ve long been admirers of Participant’s films and their mission and we’re excited about working closely with Jim Berk and the highly talented team at Participant.”