Paramount Home Inks Deal with UPIE
Under the five-year agreement beginning in April 2011, Universal Pictures Italy will distribute Paramount's home entertainment product in the country, including film and TV releases on DVD and Blu-ray.
The agreement covers the operations, finance, sales and marketing functions for PHEI products distributed in the territory.
PHEI is part of Paramount Pictures Corporation, a producer and distributor of filmed entertainment. Paramount Pictures is a unit of Viacom, a content company with television and digital entertainment brands. UPIE is part of NBC Universal, a media company engaged in the production and marketing of entertainment.
Dennis Maguire, worldwide president of PHEI, said: â€œAfter carefully evaluating the efficiencies of distributing our product through one distributor in Italy, we believe that this agreement will allow us to better serve our customers in this important territory and, at the same time, maximize performance across our entire portfolio of products. We look forward to working with Universal to grow our business in Italy through streamlined operations.â€
Eddie Cunningham, president of UPIE, said: â€œWe are pleased to have formed this agreement with Paramount in Italy, utilizing Universal's first class home entertainment distribution operation to continue to offer Paramount's quality entertainment products to consumers and increase growth opportunities in this very important European market.â€
Will the new deal commercially benefit the firms?
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