Dan Mintz, the China-based U.S. film and TV executive with credits including “Iron Man 3” and the upcoming “Point Break” remake, is in advanced talks to buy a controlling stake in Eastern Broadcasting Corporation, one of Taiwan’s largest cable TV platforms.
The stake is currently owned by the Carlyle investment group, which has been seeking to exit the business since last year. Mintz is preparing to pay up to $600 million for the business.
In a statement emailed to Variety, Mintz confirmed the purchase agreement and noted that the deal is subject to regulatory approval. On completion it would be one of the first major moves by a Hollywood investor in to Taiwanese entertainment.
Mintz is founder of the DMG Group, which has its roots in advertising and over 20 years has expanded into TV and film production. The company’s Chinese operations were split from the group last year, renamed as Yinji Entertainment & Media (aka Yinji DMG), and listed on the Shenzhen stock exchange. The US-based DMG and DMG Entertainment companies have a partnership arrangement with Yinji, due to China’s media ownership restrictions.
Mintz is making the acquisition in a personal capacity and outside the Yinji operation.
Although Taiwan and mainland China have differing political stances, the two have become economically closer in recent years, and they share a largely similar language.
He is understood to be keen to tap EBC’s large Mandarin language library and its channels which are carried on cable and satellite packages around the world.
“EBC offers tremendous growth opportunities in digital, Mandarin-language content, premium content creation and distribution, which will become the anchor platform for ongoing global expansion of Mintz’s businesses,” said the statement. [Mintz] is expected to bring his global experience, vision and resources to EBC to transform it into a global powerhouse for content creation and distribution to serve as the anchor platform for global Mandarin-language entertainment.”