Major South Korean entertainment company Sidus Corp. has bought a US $20 million slice of ImaginAsian TV (IA TV), a 24-hour Asian-American cable network in the US. The network reaches about 4 million subscribers nationwide and is the first of its kind in the US. Under the agreement, Sidus will provide theatrical films, TV series, music videos and live performances to IA TV in their native language with English subtitles.
The investment will allow the network to expand premium programming and widen its subscriber-base. IA TV has previously aired Korean dramas "Full House", "Winter Sonata", and "Princess Hours", as well as Japanese anime, Chinese soap operas, and Bollywood films. The network also commissions original programming such as sitcoms, reality shows, and stand-up comedy.
Sidus is one of the most prolific production houses in Korea, turning out between 6 and 10 feature films a year. It has produced many commercial and critical successes including "My Sassy Girl" (2001), "One Fine Spring Day" (2001), "Memories of Murder" (2004) and "A Dirty Carnival" (2006). The partnership with IA TV is expected to increase access and awareness of Korean film in the lucrative US market.
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