Warner Bros. to develop theme park, hotel and multiplex cinemas in Abu Dhabi.

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1 Oct 2007

Warner Bros. Entertainment along with Abu Dhabi's leading and fully integrated real estate developer ALDAR and the newly established Abu Dhabi Media Company have formed an unprecedented, long-term, multi-faceted strategic alliance calling for the creation of a theme park and hotel, jointly owned multiplex cinemas, a co-finance agreement covering feature film production and the development and publication of videogames, and the build-out of the infrastructure for Abu Dhabi's digital transformation.

The deal was unveiled by Barry Meyer, Chairman & CEO and Alan Horn, President & COO, Warner Bros.; Ahmed Ali Al Sayegh, Chairman and Ronald Barrott, CEO, ALDAR; Mohammed Khalaf Al Mazrouei, Chairman and Riyad Al Mubarak, CEO, Abu Dhabi Media Co.; and Hunt Lowry, who brought the two parties together and will serve as the CEO of the yet-to-be-named film company formed by this venture.

"We are thrilled to be partnering with ALDAR and the Abu Dhabi Media Company on these exciting endeavors and look forward to a very long, mutually beneficial relationship," said Meyer. "We are so impressed by ALDAR's mission and philosophy. It is a first-rate company, led by first-rate executives. We look forward to working alongside ALDAR and the Abu Dhabi Media Company to not only create an exciting and unique cultural destination in Abu Dhabi, but to have the opportunity to extend the Warner Bros. businesses and brand throughout the region."

"This strategic announcement demonstrates the depth of our commitment to building Abu Dhabi in a holistic way – bringing the best in entertainment to the communities we are creating. International alliances are a core element of our strategy to lead the industry by example, delivering value to our shareholders, customers and partners alike," added Al Sayegh.

For the hotel and theme park project, Warner Bros. Entertainment will rely on its vast experience in character and brand marketing and licensing, drawing on select properties from its live-action and animated libraries, to provide themes for the overall project as well as individual attractions. Warner Bros. will also help develop and design the theme park based on its history in that arena, which includes the development, ownership and management of Warner Bros. Movie World theme parks on Australia's Gold Coast, in Madrid, Spain and in Bottrop, Germany and previous ownership of and ongoing licensing agreement with Six Flags theme parks in the United States. ALDAR will coordinate and oversee physical construction of both the theme park and hotel. Groundbreaking on the theme park and hotel is expected in 2009.

Warner Bros. International Cinemas will develop, design and manage jointly owned multiplex cinemas in Abu Dhabi to be built by ALDAR. Initial plans call for the construction of four cinemas, in An Ruwais, Al Lain City, Yas Island and Central Market Development in Abu Dhabi, which will be Warner Bros.-branded and themed, featuring iconic characters and titles from Warner Bros.' classic and contemporary film libraries. Groundbreaking on the multiplex cinemas at the Central Market Development has occurred and they are due to open fourth quarter of 2010.