Ice Cube is expanding into Asia as his Cube Vision production company has entered into a strategic partnership with Kelvin Wu ’s AID Partners , a Hong Kong media investment company.
The deal calls for AID Partners to become a significant shareholder, strategic adviser, and an investor who fully funds targeted Cube Vision development projects. The joint announcement was made Monday by Ice Cube, Cube vision CEO Jeff Kwatinetz and Wu.
“My singular goal with Cube Vision is to continue to build a creative company that puts content quality and talent at the heart of every decision,” Ice Cube said. “Kelvin’s partnership and new friendship with me and Jeff allow us to do just that. We have a meaningful global financing partner who understands and appreciates how the right funding and creative autonomy will empower us to build a platform to grow together. What is especially exciting to me are the business opportunities in Asia to expand as we realize more success.”
AID Partners’ investments include Legendary Pictures, Golden Harvest Entertainment, Prime Focus Double Negative, HMV Digital China and Zoox. Cube Vision’s credits include “Friday,” the Barbershop and Ride Along franchises and “Straight Outta Compton.”
“The Cube Vision investment is an ideal platform for AID Partners to realize our belief and strategy in building a better lifestyle by bridging media and entertainment in different global territories,” Wu said. “Ice Cube is an extraordinary multi-hyphenate talent who also happens to have an eye for identifying commercially viable and culturally expansive source material. Coupled with Jeff’s strong business and creative acumen, the two are primed to take Cube Vision to the next level and we look forward to this long term, lucrative partnership.”
Ice Cube and Kwatinetz remain Cube Vision’s majority shareholders with creative control of material and projects. Ice Cube will next be seen in the comedy “Fist Fight.”
Centerview Partners introduced the parties and advised AID Partners on the transaction. Kwatinetz advised and negotiated the deal on behalf of Ice Cube and Cube Vision. Matthew Johnson of Ziffren Brittenham LLP represented Cube Vision, and Michael Eisner of Eisner Jaffe also handled negotiations on the deal.
