Pinewood Studios signs Joint Venture Agreement with Seven Stars Media in China
Pinewood Studios has signed a Joint Venture Agreement with Seven Stars Media, a global entertainment company based in China. Under the terms of the deal – called ‘Song Lin’ – Pinewood will look at business opportunities in China and provide production expertise.
The deal involves building co-production “opportunities”, as well as developing financing for productions in China and working on film projects in the country. Film diploma courses will also be set up in six Chinese cities and delivered by UK institutions.
“The Chinese market for content is the fastest growing in the world,” says Pinewood’s CEO Ivan Dunleavy, “and taking Pinewood’s experience and skills to that market in partnership with such an established and successful local partner is a truly exciting prospect.
“The joint venture brings together two companies with significant experience and will provide a conduit for film and television productions to maximise their impact in China.”
The Chinese market for content is the fastest growing in the world and taking Pinewood’s experience and skills to that market in partnership with such an established and successful local partner is a truly exciting prospect.
Ivan Dunleavy, Pinewood Studios
“Our local knowledge and scale,” adds Seven Stars Chairman and CEO Bruno Wu, “combined with Pinewood's unique operational skills and international reputation will enable our joint venture to participate in China's content explosion.”
Hollywood is also ramping up its interest in the Chinese market. Marvel has sought co-production status by filming scenes from Iron Man 3 in Beijing and Transformers 4 will also film scenes in the country through a co-operation agreement with China Movie Channel and Jiaflix Enterprises.
(Photos: Pinewood Studios Ltd)
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