Jeff Robinov’s production house Studio 8 is in the market for $200m in investment, according to a report in Bloomberg. The funding push, understood to be for new film and TV projects, is being led by investment bank Raine Group and could ultimately come from Chinese or international backers.
Studio 8 is majority owned by Chinese firm Fosun International, but is managed by company founder and former Warner Bros. exec Robinov. Launched in 2014 with backing from Sony and Fosun, Studio 8 has released only one sizeable movie to date, Billy Lynn’s Long Halftime Walk, on which it was a co-producer. Scheduled for release later this year are White Boy Rick, starring Matthew McConaughey, and Alpha, directed by Albert Hughes. Former Sony TV chairman Steve Mosko recently joined the firm.
Fosun has been among the most active Chinese companies in international markets, acquiring stakes in the likes of Cirque du Soleil, Club Mediterranee and UK soccer team Wolverhampton Wanderers. The Hong Kong listed conglomerate is chaired by Guo Guangchang, the billionaire business magnate and investor, known as ‘China’s Warren Buffett’. Fosun was unavailable for comment.