Magazine article Screen International

Universal, Perfect World Strike $500M Financing Deal

Magazine article Screen International

Universal, Perfect World Strike $500M Financing Deal

Article excerpt

The deal kicks offthis year and will last for five years or the co-financing of 50 pictures, with specific titles to be announced at a later date. Although financial terms were not disclosed, its understood Perfect World is investing around $500m across debut and equity contributions and will take a 25% stake in most, but not all, Universal productions.

Legendary Entertainment, which was recently acquired by China's Dalian Wanda Group in a $3.5bn deal, will continue to finance select Universal titles.

The deal marks the first time a Chinese company has signed a multi-picture financing deal with one of the six major US studios, although China Film Group and Alibaba have financed one-offstudio pictures. China Film invested in Universal's Fast & Furious 7, which is the highest grossing US film of all time in China with box office of $390m.

Perfect World recently announced that it would acquire its online gaming affiliate Perfect World Technology. In addition to production and distribution of Chinese films and TV series, the company also acquires US films for the China market, such as Ghost Rider 2, The Last Stand, Ender's Game, Rush and the Divergent franchise. …

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.