Sinomania!: China Buys a Slice of Hollywood

September 28, 2010

China Buys a Slice of Hollywood

Orange Sky Golden Harvest Entertainment Holdings, the year old merger of famed Hong Kong movie studio Golden Harvest and Orange Sky Holdings of Beijing, will buy a 3.3% stake of Legendary Pictures of Burbank, California. Legendary will get $25 million and the Chinese will get to appoint a Board member. Legendary Pictures has a "strategic partnership" with famous American movie studio Warner Brothers and co-produced this year's summer smash "Inception" and previous hits such as "The Dark Knight."

The two companies will work on Chinese language films, online games, and film distribution in China. American movies are hugely popular in China and last year's WTO ruling may help pry open the door to a big market for a uniquely American product....

Labels: foreign investment, free trade

# posted by Sinomania! : 9/28/2010 04:41:00 PM

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About Me

Name: Sinomania!

Location: San Diego, California, United States

Ben Calmes writes, produces, and hosts a weekly broadcast on China, Chinese stock markets, and business matters, at the sinomania.com website. He has traveled alone extensively throughout eleven provinces, municipalities, and special administrative regions in China. His views on China have been sought by Moody's Investors Service, the World Economic Forum, the New York Times, Xinhua Finance, and the Council on Foreign Relations. Ben worked in the White House in the administration of President George H.W. Bush and as a consultant to the Clinton/Gore Transition Team. He has held responsible positions at government sponsored enterprises at the federal, state, and city level as well as the US Department of the Treasury and private enterprises. Ben has a B.A. from the University of Virginia and a M.A. from USC.

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September 28, 2010

China Buys a Slice of Hollywood

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