State-owned Abu Dhabi Media Company has created a new subsidiary called “Imagenation [sic] Abu Dhabi” that plans to spend over $1billion developing, financing and producing up to 40 feature films over the next five years, reports The National [1].
 
The new subsidiary will team up with Hollywood and other international producers to create globally distributed movies and digital content, while also working with Middle Eastern film-makers to produce Arabic language and dual-language films with crossover appeal, says the report.