Ethmar + Guggenheim team up on multi-mn-USD media fund: Abu Dhabi investment firm Ethmar International Holding partnered with Guggenheim Brothers Media (GB Media) to launch a multi-mn-USD fund based in Abu Dhabi, according to a press release.

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The details: The global-focused fund will channel capital into the media, entertainment, and digital creative economy, targeting investments in content creation, digital IP, and entertainment technologies. The fund is co-led by Dillon Lawson-Johnston (LinkedIn) and Criswell Fiordalis (LinkedIn), both of whom bring extensive backgrounds from major Hollywood and digital studios.

Part of a bigger picture: The move comes as the UAE looks to position itself as a hub for the media industry. State efforts include raising tax rebates to 50% in a bid to boost UAE-based production and Sharjah rolling out a new production hub. The US’ Archeo Futurus and Daywalker Global are also investing USD 200 mn to advance Abu Dhabi’s media production and computing, aiming to film at least two movies in the Emirates this year.

On the global scene, the Emirates is also part of an ongoing media story grabbing international headlines, as government-owned firm L’imad was part of Paramount’s USD 108.4 bn hostile takeover bid for Warner Bros. Warner Bros’ board just rejected the bid despite Paramount’s revised bid last month.

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