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FUNDING Portugal

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SIC fills ICAM's fund

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Private broadcaster SIC has signed an investment agreement with the Ministry of Culture to allocate €2m a year for five years to the film and audiovisual fund of Portugal's film institute ICAM. The agreement runs till 2012 for a total investment of €10m.

Although SIC has always been active in the co-production and promotion of local films, having backed some of the biggest hits in the history of national cinema (such as Joaquim Leitão's Tentação in 1997 and Carlos Coelho da Silva's O Crime do Padre Amaro [+see also:
trailer
film profile
]
in 2005), this is the first time the private channel, once the leader in local TV shares, has signed an agreement with Portugal's film institution.

(The article continues below - Commercial information)

The agreement with SIC follows others ICAM signed previously, particularly with PT-Multimédia, which has invested €5m in the fund since its creation in 2004, and with public network RTP that last November committed to supplying the fund with an annual €1m.

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