Foreign channels have R$9 million in bank for co-productions

Foreign pay-TV programmers have deposited 9 million Brazilian Reals (now about 3m US Dollars) in special blocked accounts for investment in co-productions, according to the latest information from Ancine, the national film agency.
The funds correspond to 3% of overseas remittances. Each account is held in the programmer?s name but overseen by Ancine, which authorizes release of the funds only for investment in co-production projects approved by the agency.
The last meeting of Ancine?s board approved two of these co-production projects that will use the 3% contribution. One is Doutores da Alegria, co-produced by MM Filmes and Discovery Channel. The other is Três Biografias, by Giros and People & Arts.
Ancine had previously approved a project to be co-produced by Fox. In all three cases the agency is reportedly enthusiastic about the willingness of foreign programmers to invest much more than the 3% contribution.