Beijing/Hong Kong/Los Angeles, May 7, 2012: Bruno Wu, CEO Harvest Seven Stars Media Private Equity (HSSMPE) and Chairman of Seven Stars Global Entertainment (SSGE), the parent company of Seven Stars Film Studios (SSFS), today announced that Fred Milstein will become President, International, HSSMPE and Chief Executive Officer of Seven Stars Film Studios (SSFS), with immediate effect.
Milstein will be based in Los Angeles and will bring his considerable experience as a pioneer in finance and filmed entertainment to the East/West remit of HSSMPE and SSFS, with an oversight on all of their investment strategy and joint ventures outside of China. Milstein will report to Bruno Wu, Harvest’s Lindsay Wright and the HSSMPE board of directors.
This news follows the launch of the $800 million HSSMPE, which will invest across two distinct areas: mergers and acquisitions in the media field and the development of a marketing and distribution platform in all media throughout China, plus the creation of content. SSGE is a 50% shareholder in HSSMPE, while the creation of content is the purview of Seven Stars Film Studios with the resulting films potentially being licensed by HSSMPE for its marketing and distribution platforms.
Milstein has long been a driving force in entertainment business development and has worked with some of the most important and talented filmmakers in the world. Milstein’s rise as a respected talent agent and production executive, through the William Morris Agency and Miramax Films, saw him supervise a broad range of productions, many of which garnered Academy Award® nominations. He has also been instrumental in the success of a whole range of financial and investment transactions.
In 1997 he founded specialized completion guarantee company, CineFinance, where he oversaw guarantees on Academy Award® winners such as ‘THE HURT LOCKER’ and ‘THE BLIND SIDE’ as well as underwriting John Woo’s $70m epic drama ‘RED CLIFF’ – one of the largest films ever produced in China – as part of Cinefinance’s introduction of new bonds and insurance products to the Asian market. His most recent achievements have been at Aon/Albert G. Ruben where, as Managing Director of Worldwide Business Development, he has used his hands on film production experience to innovate, providing solutions and launching new products internationally.
On making the announcement HSSMPE Co Chairman and SSGE Chairman Bruno Wu commented “This appointment demonstrates our dedication to becoming a driving force in the global media and filmed entertainment industry. Fred’s considerable experience, relationships and influence with production companies in both Eastern and Western markets, will only increase the already established and experienced skillset of HSSMPE’s executives and we’re delighted to have him on board.”
Milstein said “Throughout my career, I’ve strived to break new ground in entertainment production, products and services and Asian filmmakers have consistently shown themselves to be open to innovation in all forms. Harvest Seven Stars Media shares the same vision and this latest role is another step towards developing content with international reach in this exciting and rapidly evolving market.”