Fox and Walden Team Up
LOS ANGELES – Movie studio 20th Century Fox and Walden Media, the company behind “The Chronicles of Narnia” films, have formed a joint venture to produce and market family friendly films, the companies said Tuesday.
The move gives Walden, which has been producing films with a number of studios, a permanent home for future projects while giving Fox the means to expand its reach into the lucrative family entertainment sector.
Walden, which is owned by Denver billionaire Philip Anschutz, will remain an independent entity under the deal with its own production staff. Current projects under development with rival studios, including The Walt Disney Co., Paramount Pictures and New Line, also will remain in place.
The new, as yet unnamed joint venture, will market and promote films generally rated “G” and “PG,” including movies that will be contributed to the venture by both Walden and Fox.