You will be redirected back to your article in seconds

China’s Huayi Brothers to Launch U.S. Subsidiary (EXCLUSIVE)

HONG KONG – China’s Huayi Brothers Media, which recently ditched plans to invest in Jeff Robinov’s Studio 8 company, has instead announced plans to set up its own U.S. outfit.

Huayi, which is China’s leading private sector film conglomerate, said that it will invest $130 million in the launch of a wholly-owned subsidiary.

The unit is to be involved in film and TV investment, production and distribution. It is also likely to be involved in marketing, promotion, investment and mergers and acquisitions, Huayi said in a regulatory filing to the Shenzhen Stock Exchange.

Huayi said that it would fund the investment through its own financial resources or from bank loans.

Huayi said that it would fund the investment through its own financial resources or from bank loans.
No details have yet been revealed as to who will run the unit, or how it will operate. Nor has it unveiled its first productions.

In common with all major Chinese film companies, Huayi has spent several years examining the permutations of international co-productions, relations with Hollywood and indie production. The mushrooming of the domestic Chinese film and TV markets has also kept the focus largely at home, though companies like Huayi have also looked to overseas expansion as an investment in the future and for a time when the Chinese industry slows down.

Huayi’s move also follows the announcement earlier this summer by property-to-entertainment giant Dalian Wanda, that it had acquired a Beverly Hills building which, among other things, would be home to its U.S. entertainment operations.

Talks between Huayi and Studio 8 that might have seen Huayi invest $120 million in the former Warner Bros. chief’s nascent boutique, collapsed in June after several months. It was reported that Huayi wanted to syndicate its financing of the investment and was dragging its feet. China’s Fosun International, a large diversified investment corporation, appeared to trump that deal when it committed to investing $200 million in Studio 8.

Huayi, which in June celebrated its 20th anniversary with the opening of its first theme park, has since shown itself to be in strong financial health. It reported strong first half profit growth, a $49 million syndicated loan in August and a huge profit from the buying and resale of a small cinema chain.

More Biz

  • Harvey Weinstein arrives in court, in

    Harvey Weinstein Gives Bizarre Interview From Hospital Ahead of Rape Trial

    Harvey Weinstein has given an interview weeks ahead of his rape trial in a desperate effort to convince onlookers that the apparent medical condition that caused him to undergo back surgery and use a walker are authentic and insist that he has done more for women professionally than he is being given credit for. In [...]

  • US Capitol

    The Sneaky Long Game of ALI’s Restatement of Copyright (Guest Column)

    Last week, Senator Thom Tillis and four other members of Congress sent a letter to an organization you may never have heard of, the American Law Institute (ALI).  The letter questions the ALI’s ongoing project to publish a competing version of the Copyright Act – or, as the ALI calls it, a “Restatement” of copyright [...]

  • Tom Petty’s Daughters, Widow Settle Legal

    Tom Petty’s Daughters, Widow Settle Legal Battle Over Estate

    Tom Petty’s widow and daughters from a previous marriage have settled their bitter legal battle, according to a report in Rolling Stone. Earlier this year, Adria Petty and Annakim Violette, the late singer’s daughters with his former wife Jane, sued his second wife, Dana York, for $5 million, alleging that she had deprived them of [...]

  • Tropical rainforest on the banks of

    Warner Music Aims to Plant 100,000 Trees in the Amazon as Holiday Gift to Staff

    In a move that inspired and environmentally conscious companies will hopefully emulate, as a holiday gift to its employees, Warner Music Group is partnering with the One Tree Planted organization to plant trees in the fire-ravaged Amazon forest. The company is planting 10 trees in the Amazon for each employee — a total of 48,210 [...]

  • Republic Records Names Chris Blackwell Senior

    Republic Records Names Chris Blackwell Senior VP of Creative Content

    Republic Records has named Chris Blackwell senior vice president of creative content & development, it was announced today by co-founders Monte and Avery Lipman and general manager Jim Roppo. According to the announcement, Blackwell will lead creative development for film, television and premium platform projects set to feature and showcase Republic Records artists. His responsibilities include establishing partnerships to create, develop, [...]

  • China Spying Technology Tik Tok Placeholder

    TikTok Gains Global Momentum -- but Also Raises Sticky Privacy Questions

    Bay Area rapper Saweetie didn’t intend for “My Type” to come out as a single. But when a clip of the bouncy anthem about desirable (and slightly vulgar) attributes in a partner started to take off on TikTok as part of a social media challenge, it became clear the song would be her defining hit. The [...]

  • Carlyle Group, Investors in Taylor Swift

    Carlyle Group, Investors in Taylor Swift Catalog, Address Scooter Braun Drama (Sort Of)

    Kewsong Lee, co-CEO of The Carlyle Group, a private equity fund whose assets include a minority investment in Big Machine Label Group, the record company that’s home to Taylor Swift’s catalog, spoke to CNBC’s “Squawk Alley” on Wednesday. During the interview, held at the Goldman Sachs Financial Conference, host Wilfred Frost asked the business executive [...]

More From Our Brands

Access exclusive content