Hunan TV, Lionsgate set to invest US$1.5BN in joint film projects
DetailsRebecca Hawkes | 30 January 2015
China's Hunan TV & Broadcast Intermediary Company is planning a deal with US studio Lionsgate Entertainment to jointly invest an estimated US$1.5 billion in film production over the next three years.
The companies will co-operate in film production and distribution, with about 25% of the $1.5 billion to be spent on films, according to a regulatory filing by Hunan TV on the Shenzhen Stock Exchange this week.
The planned partnership will also see Lionsgate help with the overseas distribution of Chinese films produced by Hunan TV, while Hunan TV will enjoy exclusive rights to four Lionsgate movies in China per year.
The Hunan-based media group, which is the second largest broadcaster in China, intends to set up a facility in the US city Delaware, in addition to its existing production unit in Hong Kong.
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