Golden Harvest antes up for pix

Typhoon becomes distrib's third largest shareholder

HONG KONG — Producer-distributor Golden Harvest Entertainment is leading the way in a HK$10 million ($1.28 million) joint venture with Abba Movies and Typhoon Music to finance Chinese-lingo pic projects.

A Golden Harvest subsidiary holds a 60% share, with Abba at 30% and Typhoon at 10%.

Typhoon also has taken a 14.91% stake in Golden Harvest, making it the company’s third largest shareholder after chairman Raymond Chow and tycoon Li Ka-shing, who boosted his stake to 17.13% in May.

Typhoon is jointly owned by EMI Group and Norman Cheng, chairman and chief exec of EMI Music South East Asia.

Golden Harvest hopes to explore the possibility of joint projects between its film business and EMI’s music business. Company also believes the joint venture will better position it to negotiate distribution rights for Chinese-language films.

“Golden Harvest is always looking for and welcoming new partners with synergistic capabilities,” said Roberta Chin, Chow’s daughter and a director at Golden Harvest.

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