Global media company, First Serve International LLC, and award winning animation studio, Toonz Animation India, have formed a joint venture – First Serve Toonz (FST) – to produce and distribute world-class animation programming.
FST will cater to the international marketplace as well as operate a consumer products licensing business. FST is expected to announce its first major project in the next few weeks.
The joint venture brings together two pioneers in the entertainment industry. First Serve International has produced and distributed feature films and TV programmes globally as well as pioneered setting up consumer products business in South Asia. On the other hand, Toonz is one of the biggest animation studios in India.
Elated over the JV, tennis legend-turned-entertainment entrepreneur and Chairman, First Serve International, Vijay Amritraj, said, “My company is excited to team up with Toonz at this time as India and its animation industry accelerate to new highs. Our joint venture is strategically positioned to take advantage of a tremendous growth in animation and consumer products business in our region and around the world.”
Elaborating on the venture, P Jayakumar, CEO, Toonz Animation India, said, “While First Serve International brings global experience and perspective to the joint venture, Toonz will deliver cutting-edge creativity and high production values. FST will leverage on the strengths of the two partners to become a significant player in the business.”
Toonz is one of the biggest studios in India, a country now slated to become the animation hub of the world. Ed Borgerding, who spent 20 years with the Walt Disney Company, most recently as Executive Vice-President, will be the CEO of FST. Borgerding said: “FST will be working with major Hollywood brands and content companies to develop, finance, produce and distribute top quality productions.”