China's growing presence in Hollywood film market
Updated: 2016-03-01 10:22
Poster of "The Revenant" [Photo/Weibo]
At the end of 2014, Guangdong Alpha Group, the co-funder and co-distributer of the film, established a partnership with New Regency Productions, the film's production company. It agreed to invest up to $60 million in three movies that New Regency would produce, including "The Revenant."
"In return, Alpha receives a share of the global box office takings. This partnership also increases our presence in the global film market," said Chen Derong, CEO of Alpha's interactive entertainment division.
Alpha is among a number of Chinese firms looking to secure a share of the Hollywood film industry and increase their global presence through joint ventures, investment or buyouts.
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