China Film Co. has come on board to co-finance Legendary Entertainment’s “Warcraft” and “Seventh Son,” investing at least $10 million in the tentpoles. Deal was made with Legendary East, Thomas Tull’s Chinese film arm.
The deal marks the first time China Film Co. has taken a stake in Hollywood films. If the Legendary productions are approved for Chinese release, China Film Co. will distribute the films there with distribution and marketing support to be provided by Legendary East and Universal Pictures.
The announcement comes nearly a year after Legendary announced it was partnering with China Film Co. in a multi-year co-production deal designed for the Chinese and global markets. China Film Co. is the largest producer and distributor of movies in China and is owned by the China Film Group.
That agreement also called for the two companies to fund the development and production of multiple pictures over an initial three-year term.
“These investments are an important step in the evolution of our partnership with China Film Co., Ltd.,” said Thomas Tull, CEO of Legendary Entertainment.
The pact calls for China Film Co., to be credited on those films and its equity to be recouped on a worldwide basis.
Legendary East worked with then-partner Warner Bros. last year for the release of “Pacific Rim” in China, where it outgrossed the U.S. box office with $115 million.
Universal Pictures is releasing Jeff Bridges’ fantasy vehicle “Seventh Son” on Feb. 6 in the U.S. “Warcraft,” based on Blizzard Entertainment’s popular videogame franchise “World of Warcraft,” is set for a March 11, 2016, domestic release.