Two headlines are casting a spotlight on a love affair between China and Hollywood being fueled by a soaring Chinese box office that could one day surpass the US as the world’s largest. One of the news bits shows just how big the Chinese box office is becoming, with word that domestic ticket sales soared 25 percent in the first half of the year. The other headline highlights the growing number of partnerships that are springing up, with industry giant Shanghai Media Group (SMG) reportedly in a deal to buy Galloping Horse, a Beijing production house whose assets include the Hollywood Digital Domain special effects house. Read Full Post…
Digital Domain gets new owner, Wanda expands Imax ties
A couple of news bits are highlighting China’s rapidly blossoming love affair with Hollywood, and also hinting at the turbulence we’re likely to see in the next couple of years as Chinese firms invest too much as they become smitten with show business. One of those deals has US digital effects house Digital Domain being taken over by a new Chinese owner less than a year after it was purchased out of bankruptcy by a Beijing-based film producer. The other has leading theater chain owner Wanda Group significantly boosting its ties with Canada’s Imax (Toronto: IMX), as it invests heavily in Imax’s big-screen technology. Read Full Post…
