Wanda Says It Co-Financed Paramount’s ‘Teenage Mutant Ninja Turtles’, Plans More Investment In Hollywood Tentpoles

Movie Media Group, a subsidiary of Wanda Cinema Line, said today in China that it has come aboard Paramount’s Teenage Mutant Ninja Turtles: Out Of The Shadows to co-finance what is one of Hollywood’s summer tentpoles. The film, which bows June 3, marks the first time the Wanda unit has invested in a Hollywood movie and calls it “a strategic step in its global plans.” Wanda said it will continue to look for investments into Hollywood tentpoles.

The news comes after its parent Dalian Wanda Group purchased a majority stake in Legendary Entertainment earlier this year for $3.5 billion in another strategic move into entertainment. Wanda also acquired AMC Entertainment Holdings in 2012 for $2.6B.

While it is the first time that Movie Media has invested in a Hollywood film, it is not the first time that a Movie Media brand has — its CMM Films has invested previously, and has worked with Paramount before, investing and working on localized marketing plans on the first Teenage Mutant Ninja TurtlesInterstellar (along with Warner Bros.), Terminator Genisys, and Mission: Impossible – Rogue Nation. It worked on marketing campaigns locally for Transformers: Age Of Extinction and Terminator Genisys.

Movie Media/CMM Films is an integrated marketing company specializing in movie investment, localized marketing and integrated advertising. Wanda noted that the subsidiary will act as an agent to spearhead Wanda Cinema Line’s investment into Hollywood.

Teenage Mutant Ninja Turtles: Out Of The Shadows was directed by Dave Green, produced by Michael Bay’s Platinum Dunes and stars Megan Fox and Stephen Amell.

This article was printed from https://deadline.com/2016/05/wanda-co-financed-paramount-teenage-mutant-ninja-turtles-plans-more-investment-hollywood-1201753307/