Shine Group in movie venture

Elisabeth Murdoch’s London-based production company Shine Group has formed a joint venture, Shine Pictures, with Arnon Milchan’s New Regency to make broad-appeal movies for global release.

The films, to be co-financed by Shine and Regency, will be distributed through 20th Century Fox, whose parent, News Corp., is controlled by Murdoch’s father, Rupert Murdoch.

The new outfit will have a multimillion-dollar development fund and will be run in London by Paul Webster and Stephen Garrett of Shine’s Kudos Pictures, which will be folded into the new label.