News Imagica, Cool Japan Buy Localization Company SDI Media
posted on 2015-02-21 13:20 EST by Karen Ressler
Japanese media parent company Imagica Robot Holdings has partnered with Sumitomo Corporation and the Cool Japan Fund to acquire SDI Media, an LA-based post-production firm that specializes in localizing foreign media, in order to expand its media content exports.
Variety reports that the three companies paid US$160 million to BNP Paribas, the bank that owns SDI Media. Imagica will hold the controlling stake at 50.1%, Cool Japan will own 49.6%, and Sumitomo will own 0.3%.
Imagica will send new executives to SDI Media but the management is otherwise expected to remain intact.
Imagica Robot Holdings operates a post-production and media house that handles home video authoring and assists in media production. The company also runs specialty television channels such as Imagica BS, which specializes in foreign language films, and Kayopops channel, which specializes in Japanese pop music.
SDI Media operates in 37 countries, providing dubs, subtitles, and localization for foreign media in more than 80 languages.
"Cool Japan" is a program supported by the Japanese government and various companies that promotes modern Japanese culture such as anime and manga abroad. The program revolves around the premise that Japan's strength in business and international affairs lies in anime, manga, films, fashion, and other fields of Japanese arts and entertainment content.