Argentine president wants to take on Hollywood

(AP) Argentina's leader is unveiling an ambitious new plan to support the country's television and film creators with a new industrial park along the Buenos Aires waterfront that she hopes will be modeled on Hollywood's studios.

President Cristina Fernandez says a public-private company will be created to leverage state pension fund investments and attract private developers to an abandoned area near the city's glitzy Puerto Madero district. The idea is to create spaces for TV and film creators to benefit viewers not only in Argentina but around the world.

She said Wednesday that Argentina's new media law requiring homegrown content is already creating thousands of jobs.

With this latest project, she says that "just like they do it in Hollywood, we want our values and our culture to become almost universal."