Li Ming, chairman of film and TV firm Beijing Galloping Horse Group, passed away on Thursday night. According to reports, the cause was a heart attack. He was 47. The exec founded Beijing Galloping Horse in 1994 as an advertising agency which then segued into TV and film production and investment. Galloping Horse’s credits include the feature remake of The Karate Kid with Jackie Chan and the historic TV drama Three Kingdoms. It is also the principal backer of John Woo’s The Crossing which is currently shooting. In 2010, Galloping Horse entered the exhibition business, building movie theaters in smaller Chinese cities, China.org noted. More recently, in 2012, Galloping Horse America teamed with Reliance MediaWorks to acquire Digital Domain, the VFX company founded by James Cameron. The partners paid $30.2M for Digital Domain Productions and subsidiary Mothership Media with Galloping Horse taking a 70% stake and Reliance 30%. But Galloping Horse later sold its share to Hong Kong’s Sun Innovation Holdings for $50.5M.