Wanda Group is in the position to transform theatrical exhibition markets in English-speaking territories.
Update: Dick Clark Productions sues Dalian Wanda for $25 million after the Chinese conglomerate failed to complete it’s $1.07 billion buyout.
Xinke, a Chinese copper processing company revoked their offer to acquire 80% of Voltage Pictures for $350 million.
China’s top film regulator, announced through state-run news sources that a quota expansion is likely in the coming months.
Wang Jianlin, chairman of Wanda Group, warned the U.S. last week against implementing protectionist measures for media assets.
The media industry’s increasing dependence on Chinese capital sets up a crisis once the chickens of China’s property market come home to roost.
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.
Lionsgate entered into a long-term content licensing agreement with iQiyi in November 2016 for upcoming features and select library films.
iQiyi, a Chinese online video site owned by Baidu, announced in December that the company is coproducing a three-part local-language series with Sony.
The unofficial expansion of the Chinese film quota system is taking place right now. So far in 2016 over 40 revenue-sharing films have screened.