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Saudi Outfits Muvi & Telfaz11 Strike Cooperation Agreement

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deadline.com
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Muvi Cinemas, the first locally owned and operated cinema brand in Saudi Arabia, and Riyadh-based producer and financier Telfaz11 have inked a deal that will see the two companies team to grow filmmaking in the region.Under the terms of the deal, Muvi is taking an undisclosed stake in Telfaz11.

A new film fund will also be created to finance Telfaz11-produced feature films for release in theaters across Saudi. The companies say they will also collaborate on each other’s social-media and digital platforms in a marketing alliance as they look to expand their brands.Back in November, Netflix struck a deal with Telfaz11 for the latter to produce a slate of eight films for the global streamer.

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