×

Time Warner Pacts with China Media Capital

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.

More News

  • Russell Tovey on His 'Arrogant and

    Russell Tovey on His 'Arrogant and Heroic' 'Years and Years' Character

    SPOILER ALERT: Do not read if you have not yet watched the fourth episode of “Years and Years.” Russell T. Davies’ limited series “Years and Years” began with a birth, but it did not wait until the finale to book-end the story with a death. In the fourth episode of the multi-year spanning family drama, [...]

  • Sean AstinCritics' Choice Awards, Arrivals, Los

    Film News Roundup: Sean Astin Cast in 'Mayfields Game,' 'Charming the Hearts of Men'

    In today’s film news roundup, Sean Astin gets two roles, two “Peanuts” movies are set for release, “One Last Night” gets distribution and Brian De Palma gets honored. CASTINGS Sean Astin has been cast in a pair of upcoming feature films: “Mayfield’s Game” opposite Mira Sorvino and “Charming The Hearts of Men” opposite Kelsey Grammer. Astin [...]

  • Dwayne Johnson Idris Elba

    Dwayne Johnson: Idris Elba Nixed 'Black James Bond' Joke in 'Hobbs & Shaw'

    In the “Fast & Furious Presents Hobbs & Shaw,” the movie’s villain Brixton, played by Idris Elba, spreads his arms out wide and declares “I’m black Superman.” It turns out that might not have been the original line. Dwayne Johnson tells Variety that Elba was first asked to proclaim he’s “black James Bond,” but the [...]

  • Justin Baldoni

    Justin Baldoni Developing 'It Ends With Us' Romance Movie

    “Jane the Virgin” Star Justin Baldoni is adapting Colleen Hoover’s romance novel “It Ends With Us” for film through his Wayfarer Entertainment company. Baldoni announced Monday that he had optioned the project on his Instagram account. “It Ends With Us” first published in 2016 and follows a young woman through the tumultuous stages of an [...]

  • Hugh GRant photographed by Shayan Asgharnia

    Listen: Hugh Grant on Why He Would Kill Social Media if He Could

    Hugh Grant has been very active in U.K. press reform initiatives, but he knows the problem is even bigger than the media moguls who control the world’s major news outlets. That’s why Hacked Off, the campaign he’s involved with, is also expanding its scope to include the impact of online propaganda. “It’s particularly terrifying, the [...]

More From Our Brands

Access exclusive content