Chinese investment in Hollywood movies continues apace reports China Daily.
Alibaba Digital Media and Entertainment Group plans to invest more than 50 billion yuan ($7.2 billion) over the next three years. And there are many other examples of Chinese companies financing movies or investing in Hollywood companies.
Huahua Media has financed movies such as Jack Reacher: Never Go Back, Star Trek Beyond, Allied and Transformers: The Last Knight.
Alibaba Pictures is behind Teenage Mutant Ninja Turtles: Out of the Shadows, Star Trek Beyond and Mission: Impossible－Rogue Nation.
Investments in Hollywood companies include:
- Xinke New Materials acquiring 80 percent of the parent company of Voltage Pictures
- Alibaba Pictures investment in Stephen Spielberg’s Amblin Partners
- Tang Media’s acquisition of majority stake in IM Global
- Wanda’s $1 billion investment in Dick Clark Productions
- Wanda’s $3.5 billion purchase of Legendary Entertainment
Looking to the future, is a Chinese acquisition of one of the six major Hollywood studios possible?Click here to read the full article.