EXCLUSIVE: Relativity Media is forming a joint partnership with Jiangsu Broadcasting Corp to develop, cofinance coproduce and distribute film and TV projects for the Chinese and international marketplace. JSBC is making an equity investment in Relativity as part of the deal, which will be unveiled shortly at the Shanghai International Film Festival. JSBC is a major media entity in China with TV, radio, newspaper, magazine and web platforms. The deal is expected to give Ryan Kavanaugh’s company a foothold in the burgeoning marketplace. Relativity made its first foray in China with SkyLand Entertainment, a film distribution and finance company located in Beijing that was hatched as a joint venture between Relativity, IDG China Media Fund and SAIF Partners.
“China is one of the world’s largest and fastest growing markets for every form of content, and Relativity has long been focused on expanding our footprint in this incredibly dynamic market. The partnership with JSBC…will further strengthen the robust foundation we have built in China,” said Ryan Kavanaugh, CEO of Relativity. “By collaborating with JSBC, we will deepen our relationship with the Chinese media and entertainment industry and provide a world-class platform from which to co-develop Chinese and international film, television, and sports content with one of the preeminent media companies in China.”
Mr. Bu Yu, President of JSBC, said, “JSBC is delighted to make this investment into Relativity, one of the world’s most disruptive and fastest growing media companies. Combining our distribution and content with Relativity’s will strengthen the formidable platforms of both our companies. This partnership will allow JSBC and Relativity to collaborate across the full range of content from film and television, to sports and music, and we are excited about the possibilities it creates.”