Beijing Pangu Investment Co., a Chinese sponsor on the upcoming release of “Transformers: Age of Extinction,” said it has ended its association with the upcoming sequel and is taking legal action.
The company owns Pangu Plaza Hotel, a high-tech real estate development that is featured in the film. However, it says that Paramount Pictures and its associates did not abide by the terms of its promotional agreement. It is barring the studio from using its logos or buildings in any promotional materials for the film.
“This has caused huge financial loss and damage to the reputation of our company,” Beijing Pangu Investment said in a statement.
“When marketing and distributing ‘Transformers: Age of Extinction,’ (the studio) is not allowed to use our company’s image, logo, our building’s inside and outside views and its recognizable elements,” the statement continues. “If already used in the film, they shall all be deleted.”
The contract was ended on June 15, and the company said it has filed court charges related to financial losses and damages to its reputation. It did not elaborate on how the partners had violated the terms of the contract.
“Pangu Plaza has a prominent placement in ‘Transformers 4’ and it looks beautiful onscreen,” a spokesman for Paramount said in a statement. “We regret that Pangu is not currently satisfied with certain aspects of our collaboration and are working to resolve its concerns.”
The heavily anticipated sequel has invested time and resources to build up an audience in China, shooting parts of the film there and scheduling a world premiere in Hong Kong and closing-night screening at the Shanghai Film Festival.
The most recent “Transformers” film earned north of $160 million in China alone, and analysts expect the latest installment will eclipse that figure.
The deal called for Beijing Pangu Investment Co.’s buildings to be featured in the movie, in return for which the investment firm would provide financial resources.