×
You will be redirected back to your article in seconds

IMAX, China Media Capital to Finance 15 Chinese Movies

IMAX China and China Media Capital have established a movie production fund with which they anticipate co-financing a slate of 15 Chinese language films over the next three years.

The China Film Fund has an initial capitalization of $50 million and will provide contributions of $3 million-$7 million per film. Greenlighting will be by a joint IMAX China-CMC committee. Other partners may be brought in to expand the fund or the budget of the approved movies.

“The fund will target productions that can leverage the IMAX® brand, technology, relationships, and release windows, they companies said in a statement.

IMAX China is a subsidiary of IMAX with its own share listing in Hong Kong. The company has for several years struck deals with Chinese production companies including Huayi Brothers, Bona Film Group and Wanda to either convert films to IMAX format or to shoot in IMAX. IMAX has nearly 300 screens in operation in China and expects to reach over 500.

“Our strong relationships with China’s most acclaimed studios and filmmakers mirror those we’ve established in Hollywood, thanks to the support of our valued partner CMC,” said IMAX CEO Richard L. Gelfond. “The fund will further deepen our ties in the China film industry and allow us to generate the highest-quality Mandarin content for Chinese and international audiences alike.

“The appetite for premium Chinese content among the nation’s moviegoers continues to grow. The fund is an outgrowth of CMC’s privileged capability and extensive connections in the Chinese film industry and IMAX’s beloved brand and differentiated cinematic experience. We hope this will support the creation of more tentpole Mandarin-language films,” said CMC chairman Li Ruigang.

More Film

  • Steve Bannon appears in The Brink

    Sundance Film Review: Stephen K. Bannon in 'The Brink'

    Stephen K. Bannon drinks Kombucha (who knew?), the fermented tea beverage for health fanatics that tastes like…well, if they ever invented a soft drink called Germs, that’s what Kombucha tastes like. In “The Brink,” Alison Klayman’s fly-on-the-wall, rise-and-fall-and-rise-of-a-white-nationalist documentary, Bannon explains that he likes Kombucha because it gives him a lift; he drinks it for [...]

  • Walt Disney Archives Founder Dave Smith

    Walt Disney Archives Founder Dave Smith Dies at 78

    Walt Disney Archives founder Dave Smith, the historian who spent 40 years cataloging and preserving the company’s legacy of entertainment and innovation, died Friday in Burbank, Calif. He was 78. Smith served as Disney’s chief archivist from 1970 to 2010. He was named a Disney Legend in 2007 and served as a consultant to the [...]

  • Oscar OScars Placeholder

    Cinematographers Praise Academy Reversal: 'We Thank You for Your Show of Respect'

    Cinematographers who fought the decision to curtail four Oscar presentations have praised the Academy of Motion Picture Arts and Sciences for reversing the exclusions. “We thank you for your show of respect for the hard-working members of the film community, whose dedication and exceptional talents deserve the public recognition this reversal now allows them to enjoy,” [...]

  • Peter Parker and Miles Morales in

    'Spider-Man: Into the Spiderverse' Colored Outside the Lines

    The well-worn superhero genre and one of its best-known icons are unlikely vehicles for creating a visually fresh animated feature. But Sony Pictures Animation’s work on the Oscar-nominated animated feature “Spider-Man: Into the Spider-Verse” shows throwing out the rule book and letting everyone play in the creative sandbox can pay off big. “I think we [...]

  • Denis Villeneuve

    Denis Villeneuve's 'Dune' Gets November 2020 Release Date

    Warner Bros. has scheduled Legendary’s science-fiction tentpole “Dune” for a Nov. 20, 2020, release in 3D and Imax. “Aquaman” star Jason Momoa is in negotiations to join the “Dune” reboot with Timothee Chalamet, Javier Bardem, Rebecca Ferguson, Stellan Skarsgard, Dave Bautista, Josh Brolin, Oscar Isaac, and Zendaya. Production is expected to launch in the spring [...]

  • James Bond Spectre

    Bond 25 Moved Back Two Months to April 2020

    James Bond will arrive two months later than planned as MGM moved back the release date on the untitled Bond 25 movie from Feb. 14 to April 8, 2020 — a Wednesday before the start of Easter weekend. It’s the second delay for Bond 25. MGM and Eon originally announced in 2017 that the film [...]

  • Fast and Furious 8

    'Fast and Furious 9' Release Date Pushed Back Six Weeks

    Universal Pictures has shifted “Fast and Furious 9” back six weeks from April 10 to May 22, 2020 — the start of the Memorial Day weekend. It’s the second backwards shift for the title. In 2017, Universal moved the film back a year from April 19, 2019, to April 10, 2020. Both dates fall on [...]

More From Our Brands

Access exclusive content