The Shanghai Media Group, CMC Capital Partners, and advertising giant WPP will join Warner Bros. Entertainment and director Brett Ratner’s RatPac Entertainment in the group that plans to invest in Chinese and global film, TV, and live entertainment opportunities. The goal is to develop projects that “are Chinese language or would appeal to Chinese audience, for distribution to each project’s most appropriate outlet, whether in China or beyond,” the companies say. They offered no details about the size of the fund, to be called the CMC Creative Fund, but say that they will focus on individual projects. Warner Bros., RatPac, and WPP also plan to “share their production and distribution expertise with up-and-coming players in the Chinese entertainment industry.”
“We believe China is a market with incredible potential and a wealth of talent,” says Warner Bros. CEO Kevin Tsujihara. He adds that he wants to “develop and grow the entertainment industry in China in a respectful and meaningful way.” Parent company Time Warner invested $50 million in state-backed China Media Capital last year.
Ratner has been successful in China with the TV series Prison Break, and movies including Rush Hour and X-Men: The Last Stand. “It is exciting to have the opportunity to collaborate with our colleagues from China,” he says. “I hope to best exploit my experience techniques and connections in the industry to help China’s creative talents, especially the younger generation, to create Chinese projects that will be successful in the global markets.”
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