{"id":10006,"date":"2011-08-15T04:08:52","date_gmt":"2011-08-15T04:08:52","guid":{"rendered":""},"modified":"2011-08-15T04:08:52","modified_gmt":"2011-08-15T04:08:52","slug":"Hollywood-film-giant-links-with-China-distributor","status":"publish","type":"post","link":"https:\/\/asiancemagazine.com\/?p=10006","title":{"rendered":"Hollywood film giant links with China distributor"},"content":{"rendered":"

Relativity Media, the production company behind “The Social Network”, has teamed up with two Chinese firms in a $100 million deal that gives it access to China’s rapidly expanding film market.<\/strong><\/p>\n

Relativity will co-produce and distribute “cross cultural” films and television programmes with China’s Huaxia Film Distribution<\/strong> and SkyLand Film-Television Culture Development, the companies said in a statement.<\/p>\n

Huaxia is China’s second-largest distributor, while SkyLand recently made the English-language film “Snow Flower and the Secret Fan” by Chinese American Wayne Wang, produced by Wendi Murdoch and starring Chinese actress Zhang Ziyi.<\/strong><\/p>\n

The three-way cooperation, announced Sunday in Beijing by Relativity chief executive Ryan Kavanaugh and Huaxia executive chairman Gu Guoqing, comes as China puts up seven new cinema screens a day and sells more tickets than ever.
\n<\/strong>
\nChina is the world’s fastest-growing film market<\/strong>, with 2010 movie box office takings up 64 percent to hit $1.5 billion, according to official figures.<\/p>\n

The new joint venture will distribute Relativity titles such as the mythological action film “Immortals” and an untitled Snow White film starring Julia Roberts under the SkyLand banner.<\/p>\n

Two-year-old SkyLand is backed by Chinese private equity firm SAIF Partners and the China arm of Boston-based media fund IDG<\/strong>.<\/p>\n

Kavanaugh said Relativity would work with SAIF and IDG to develop, produce, distribute and acquire Chinese television shows and films made for China that might also have worldwide appeal.<\/strong><\/p>\n

“It is unquestionable that China and the United States must work closely together to build an entertainment business for the future<\/strong>, which strives to make and release global product appealing to worldwide audiences,” he said.<\/p>\n

Huaxia’s Gu said the partnership would also “open the channels for Chinese movies to air globally and offer international audiences a better understanding of Chinese culture”.<\/strong><\/p>\n

Source AFP<\/em>
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