Co. to take small stakes in films, hold distrib rights
Golden Harvest Entertainment is to return to film investment after being out of the production biz for last four years.
Company, an iconic name associated with Hong Kong actioners from the 1970s and 1980s, plans to invest $10 million into production this year, according to the South China Morning Post Thursday. Recent years have seen company focus on exhibition around Asia.
Report quoted managing director CK Phoon saying that Golden Harvest will take small stakes in films and hold local distribution rights.
“We see the movie industry in Hong Kong bottoming out this year, while there will be strong growth in the mainland market,” he said. “We have a good distribution network with more than 300 screens in the region. We need more new movies to fill the screens.”