Time Warner Pacts with China Media Capital

Time Warner Logo

Pact moves conglom further into Chinese marketplace

Hoping to gain a foothold in the booming Chinese marketplace, Time Warner has announced a strategic partnership with investment fund China Media Capital.

Conglom made the announcement Thursday during China’s 2013 Fortune Global Forum in Chengdu. Partnership will “capitalize on China’s rapidly expanding media sector,” according to the announcement, which provided few specifics on just how the two companies would work together.

China’s rapidly expanding box office and media infrastructure has lured many entertainment companies over the past few years. DreamWorks Animation’s Oriental DreamWorks marked Hollywood’s first production facility to operate in China when it opened in Beijing earlier this year, while companies like Relativity Media and Legendary Entertainment have sought out distribution partners to help tap into the country’s booming box office.

“Increasing our global presence is one of Time Warner’s strategic priorities and China is one of the most attractive territories in which we operate, but it is complex,” stated Time Warner chairman and CEO Jeff Bewkes. “This alliance will give all our businesses a savvy and accomplished partner as we strive to bring our leading brands and storytelling to people everywhere, across a wide range of devices.”

CMC Chairman Ruigang Li founded the company in 2010 with a focus on entertainment investments. Company’s investments include Oriental DreamWorks and the purchase of Star China from News Corp. in 2010.

Filed Under:

Want to read more articles like this one? SUBSCRIBE TO VARIETY TODAY.
Post A Comment 0

Leave a Reply

No Comments

Comments are moderated. They may be edited for clarity and reprinting in whole or in part in Variety publications.

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

More News from Variety