Exec named president of Entertainment, CEO of Film Studios

Fred Milstein has come onboard as president of Chinese entrepreneur Bruno Wu’s Harvest Seven Stars Entertainment and become CEO of Seven Stars Film Studios.

Milstein will be based in Los Angeles with oversight of Seven Stars’ investment strategy and joint ventures outside China. He will report to Wu, Harvest’s Lindsay Wright and the Seven Stars board of directors.

Seven Stars announced on April 30 that it was linking with the Tianjin city government to build Chinawood, a $1.27 billion film and media hub that will sprawl over 8.6 million square feet. The project is aimed at luring U.S. and other foreign productions and will provide a hub for co-productions, which are exempt from Chinese import quotas.

Wu has teamed with Jake Eberts and Justin Lin on projects this year after launching the $800 million private equity-fueled Harvest Seven Stars Media Fund in February.

Milstein founded completion guarantee company CineFinance in 1997 and oversaw guarantees on “The Hurt Locker” and “The Blind Side” along with underwriting John Woo’s “Red Cliff” as part of CineFinance’s introduction of new bonds and insurance products to the Asian market. He was working most recently as managing director of worldwide business development at Aon/Albert G. Ruben.

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