Chinese money drawn to Tinseltown

on September 10 2014 | in Daily Headlines | by | with No Comments

Chinese investment in the United States has seen growth not only in size and volume but also in expanding categories beyond traditional manufacturing-related industries.

Now, it’s Hollywood.

In a recent partnership, China’s investment conglomerate Fosun Group joined forces with LA-based Studio 8 and Sony Pictures Entertainment (SPE), the American entertainment arm of Japanese media company Sony, on more Studio 8 film distribution by SPE.

Studio 8 expects to raise $1 billion in overall financing, while the partnership will also include Fosun’s involvement in developing entertainment content.

Jeff Robinov, ex-Warner Bros Motion Picture Group president and founder and CEO of Studio 8, will work closely with Fosun Group on developing TV and digital content, establishing versatile multi-platform distribution opportunities and collaborating with global production and brand-based properties, including those in the Chinese market.

Established in the early ’90s in Shanghai, Fosun has established business in the healthcare industry and real estate. The company made headlines by completing its $725 million purchase of the 60-story tower at One Chase Manhattan Plaza in Lower Manhattan in New York last year.

Read more at China Daily.

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