Thai production house and digital terrestrial broadcaster, Workpoint Entertainment, is establishing a new joint-venture label with the country’s largest cinema chain, Major Cineplex, to invest in and produce movies.

The new venture, Karman Line Studio Company, will be set up before the end of this year with a registered capital of THB 110 million/US$3 million. 

The investment in 50% of the Karman Line Studio will be made through Workpoint’s 99.9%-owned subsidiary, Thai Broadcasting Co Ltd. 

The other 50% will be held by the Major Cineplex Group, which is also listed on the Thai Stock Exchange. 

In a note to its shareholders this morning, Major Cineplex said its board had already approved the investment in the new company. 

Both partners said their investment would be made in two phases: the first payment of THB 25 million/US$693,000 each in December 2023 and the second of THB 30 million/US$832,000 each within 2024. 

The money will come from the working capital of both companies. 

Major Cineplex is already deeply involved in Thailand’s film production environment with, among other ventures, majority stakes in M Pictures Co, M Pictures Entertainment and M Thirtynine Co, as well as a number of joint ventures for specific films, including "Hug Terd Tueng" (M Pictures and Land of Smile), "Juad Kathoei Bung Fa" (M Thirtynine Co and Thai Broadcasting Co); and "Buaphan Fun Yub" (Major Join Film and BEC World).