CANNES -- Taipei and LA-based Double Edge Entertainment has boarded videogame adaptation "King of Fighters" which is to be directed by Hong Kong action helmer Gordon Chan. 

Cash rich company is backed by world's No. 3 computer manufacturer BenQ and by the Taiwan government. It is already financing Diane Keaton and Liv Tyler-starrer "Smother" and Paul Walker-Piper Perabo vehicle "The Heaven Project," which are both repped by Inferno Distribution.

Company is ramping up its role as movie investor, co-producer and local distribber in Taiwan.

"When we go in as an investor we are looking to put up 7.5%-20% of budgets at an early stage in project and in return earn exec producer fees and take Asia and Japan rights," said CEO Bobby Sheng. "Inferno arrangement is best example of this."

Selection of the two-four investment projects per year is likely to be eclectic, but pics need to have Asian appeal derived from casting or subject matter.

As a local co-producer it is able to leverage its own investment with supplementary coin from the Taiwan government. On "King" it joins Japanese shingle Micott & Basara and sales agent Arclight/Easternlight as co-producers.

Company aims to get its animation and FX facility CGCG involved.

"Taiwanese companies need to move away from sub-contracting and become more involved in original material." CGCG, which has worked on Donkey Kong" and Miramax's "Bionical" series, recently struck a deal with U.S. animation writer Tab Murphy to produce 3D cartoon series "The Little Monk."

"King," adapted from a SNK Playmore concept that has spawned 30 video games, is produced by Axis Entertainment's Joseph Chou and Tim Kwok of LA's Convergence Entertainment.

© Reed Business Information, a division of Reed Elsevier Inc. All rights reserved.

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