Magazine article Screen International

China's Huace to Buy Stake in Korea's N.E.W

Magazine article Screen International

China's Huace to Buy Stake in Korea's N.E.W

Article excerpt

China's Huace Film & TV is buying a 15% stake in South Korean investor-distributor Next Entertainment World (N.E.W.).

The Zhejiang-based company has signed a memorandum of understanding (MOU), agreeing to pay $53m for the stake, which makes it the second biggest shareholder in N.E.W.

The two partners will also launch a joint film venture, which will develop at least two films a year for the next five years.

Huace is one of China's leading TV producers and a minority investor in John Woo's upcoming romantic epic The Crossing.

Established in 2008, N.E.W. is one of Korea's leading distributors, winning market share in the past few years from the big studios that dominate the market - CJ E&M, Showbox/Mediaplex and Lotte Entertainment. …

Search by... Author
Show... All Results Primary Sources Peer-reviewed

Oops!

An unknown error has occurred. Please click the button below to reload the page. If the problem persists, please try again in a little while.