HONG KONG – Global Entertainment Group, one of the Hong Kong backers of Oliver Stone’s’ upcoming “W,” has bought its first multiplex in China.
The aspiring mini-conglom headed by Johnny Hon, acquired the Harbin Jin An Tian Ma Cinema, a four screen complex in northern province of Heilongjiang.
Bought from Mega Ally Group and costing $RMB3.6 million ($521,000,) the cinema opened in Jan 2007 and achieved total box office of $525,000 in its first 14 months of operation.
GEG has announced plans to move into the exhibition sector in China which nationwide is growing at some 30% annually. Company says that film exhibition will complement its production, film distribution and artist management businesses.
GEG, which is listed on the London Stock Exchange and has announced a $100 million film fund, is also a backer of Ekachai Uekrongtham’s Karen Mok and Ananda Everingham-starrer “The Coffin.”