Viacom has had enough of China. The New York-based company is in talks with at least one Chinese group to sell some or all of the company’s operations on the mainland.
China’s Recon Group fails to close its acquisition of Avi Lerner’s Millennium Films. All Hollywood-China deals are in peril, as many have failed to close this year.
August 28, 2017FilmTakeComments Off on Was Wanda Group’s Chairman Barred from Leaving China?
Wanda Group dismissed “vicious rumours” that its chairman Wang Jianlin and China’s richest person, was detained by authorities and forbidden to leave China.
If reports from China are to be believed (clearly they cannot), a company with $19 million in revenue was going to finance $1 billion of Paramount’s slate.
April 25, 2017FilmTakeComments Off on Netflix Will License Original Content to China’s iQiyi
Censorship and foreign content restrictions will limit Netflix’s ability to transition their licensing agreement with iQiyi into a meaningful foothold.
Paramount will not receive the $1 billion in slate funding from China’s Shanghai Film Group, and Hua Hua Media. A source said, the “Paramount deal is dead.”
After $1 billion writedown Sony Corp. announced that it does not plan to sell Sony Pictures. The company is under pressure to sell after mounting losses.
China doubled the number of movie screens from 20,000 in 2013 to 41,000 by 2016. Conversely, 2016 was the worst year in a decade at China’s box office.