MUMBAI: This is an initiative that seeks to take the animation film genre to the next level.

Miramax Films, its sub-division Dimension Films and Wild Brain which produces animated entertainment, have announced a multi-year, multi-film agreement

As per the deal the three entities will co-finance and co-produce computer-generated (CGI) animated films.

The first joint production is expected to be Opus. Craig Mazin Scary Movie 3 will adapt from the Pulitzer Prize-winning comic strip, It will feature the lead character who is a penguin.

Miramax/Dimension will distribute the films worldwide in all media. The agreement also gives Miramax/Dimension the opportunity to distribute Wild Brain‘s self-financed, direct-to-video productions over the next three years.

Similarly, Wild Brain has the opportunity to access Miramax/Dimension‘s worldwide distribution pipeline for films in which it produces and pays releasing costs.

Wild Brain chairman Jim Miller added, "We are enormously fortunate to have such a skilled marketer and accomplished distributor as a business partner to expand the scope of our animation offerings.

"Our premiere animation facility has attracted some of the most respected artists and producers in the business. Now we have a production partner that shares our commitment to superior content driven by compelling story lines."