Chinese social media giant, Tencent has previously partnered with Celestial Pictures, the company that now controls the rights to the Shaw Bros. library, on an online game of “The Magic Blade” (aka “The Moonlight Blade”). The original film was released in 1976. Celestial now plans to make a feature film.
“It is very exciting for us to find a partner of like-minds to jointly enhance and develop the original film IP by extending into a larger picture and understanding of the screenplay and its characters,” said Kristen Tong, Celestial Pictures COO. “Celestial has been active in developing transmedia story worlds built upon our library’s super IPs to bring extraordinary entertainment experiences to the global and Asian markets.”
Details of the film’s budget, talent attachments and schedule are currently unavailable.
Tencent recently set up Penguin Pictures (Shanghai), a new movie production unit, that will focus on online drama and make minority investments in feature films, as well as establishing its own pool of talent under management. It said that it will back 10-15 movies per year.
This week Tencent revealed that it would release the first six episodes of “Star Wars” to
Chinese online video viewers.
Celestial Pictures has a substantial investment in Celestial Tiger Entertainment (CTE), a venture with Saban Capital Group and Lionsgate. It operates branded pay television channels including Celestial Movies, Celestial Classic Movies, Celestial Movies HD, CHK, Kix, Kix HD and Thrill, with a footprint that spans Asia and Australia.