GFDD/Funglode and SBS Agreement Finalized, New Films to be Made in the DR

Dr. Leonel Fernández, the president of GFDD/Funglode and former President of the Dominican Republic, oversaw an inter-agency partnership with the Spanish Broadcasting System (SBS) to produce and market a series of films through the Dominican film industry.

Dr. Fernández met with Cuban-American businessman, Raúl Alarcón, president of the SBS group, at the company headquarters. They stressed that this partnership agreement, which will involve an initial
$25-million-dollar investment, seeks to provide decisive support to the development of the film industry in the Dominican Republic.

The organizations involved in the initiative proposed producing and screening some 12 films, two of which have already been approved by Dominican film authorities, in addition to screening four movies that have already been made.

In terms of the agreement, Funglode will be represented by the Global Media Arts Institute (GMAI) and the Dominican Republic Global Film Festival, both directed by Omar de la Cruz.

Other participants at
the meeting included Funglode Executive Director, Marco Herrera, and Yvette Marichal, Director of the Dominican Republic Film Commission (DGCINE).

The SBS is the largest publicly traded Hispanic media company in the United States. It owns and/or operates 21 radio stations in major Hispanic markets in the U.S., including New York, Los Angeles, Miami, Chicago, San Francisco, and Puerto Rico.

The company also owns and operates Mega TV, a television network
that broadcasts locally through cable and satellite, with affiliates throughout the U.S. and Puerto Rico. SBS produces live concerts and events and manages www.LaMusica.com, a bilingual English-Spanish website about Latin music. The website also provides content about the world of entertainment, culture, and news.

Dr. Fernández traveled to Miami on Tuesday to formalize the agreement, and returned to the
Dominican Republic shortly after concluding the meeting with SBS.