China’s state-owned film distributor is making its first investment in the world’s largest movie industry by taking a stake in two Hollywood productions, Shanghai Daily reported Wednesday, citing the company.
China Film Co. will make an equity investment in two upcoming films by Legendary Entertainment – Seventh Son and Warcraft. The exact amount of the investment was not given.
Seventh Son is a fantasy adventure starring Jeff Bridges and Julianne Moore and is scheduled for a February 2015 release. Warcraft, based on a popular video game series, will be in theaters in March 2016.
If these movies are approved for release in the mainland, China Film will distribute them, the report said. The government caps foreign movies at 34 a year.
China Film, which is planning to go public, owns stakes in movie theater chains that account for half of the country’s box office receipts.
Its parent, China Film Group, controls film imports and co-productions.
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