The initiative is designed to create multiple business activities as well as direct and indirect high-value local employment opportunities.
The signing ceremony was held at the Royal Automobile Museum in Amman. Signing the agreement on behalf of MGM was Executive Vice President for Consumer Products, Travis J. Rutherford, and on behalf of Rubicon was Chief Executive Officer, Randa Ayoubi. Attending the ceremony were personalities from Amman's elite business community and a team of high level MGM executives.
Ayoubi said is enthusiastic that relationship will open the door for a chain reaction of opportunities that will take Jordan to the next level in entertainment and content provisioning: "This landmark alliance is testimony to Rubicon's ability to leverage Jordanian talent to create world-class content that is now attracting global attention.
"It will assert Rubicon's position as the leading media and entertainment player and the dominant content provider to the Greater Middle East and North Africa markets. This cannot be but good news for Jordan and its dynamic, creative talent."
Rutherford is encouraged with the region and the new relationship: “MGM has always set a high standard for itself and as the leading brand in entertainment we are very pleased to take a leading role in the Middle East by working with Rubicon and its strong regional base of support for MGM. Moreover, it gives me great satisfaction to know that we are not only entering into good business, but we are able to create high value jobs and further the growth of an industry that Jordan has set its sights upon to develop.”
Through this multi-level strategic business relationship, MGM and Rubicon will initially undertake three specific business opportunities.
The financing and co-production of an animated television series based on MGM's Pink Panther characters, titled “Pink Panther & Pals” (PP&P), which includes Rubicon developing licensing and merchandising opportunities for the joint production and sharing in the revenue generated from MGM's international distribution of the property.
Additionally, Rubicon will undertake with MGM an exclusive licensing and merchandising agreement for the creation and development of Rubicon and other MGM entertainment properties in the Greater Middle East and North Africa region.
This alliance will also explore Location Based Entertainment (LBE) opportunities by leveraging the MGM brand and certain MGM concepts along with Rubicon's broad geographic and cultural knowledge and relationships to facilitate for MGM LBE business ventures, such as theme parks and multi-use real estate ventures. MGM will seek to utilize Rubicon's localized content to develop new proprietary concepts for L&M and LBE exploitation for the Middle East and North Africa.
The MGM-Rubicon strategic relationship will also explore the establishment of specific financing and co-production opportunities for a variety of media and entertainment projects and properties in the targeted markets.
Rubicon's Chairman, Fawaz H. Zu'bi, said, "I have always been of the opinion that Jordan is the ideal destination for companies such as MGM to forge solid and long-lasting relationships that are mutually beneficial. With entrepreneurs who are hard working and who have discipline, determination and vision, Jordan offers skill, a dynamic talent pool and a very vibrant springboard to the Middle East Region."
"A brand new industry has been created in Jordan, an industry that would take us higher up in the value chain. We did not need to take this success anywhere else in the region to make it shine; we chose to plant it here in Amman," Ayoubi added.
