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Yet another case of Hollywood hopping on the China film market bandwagon. Here is the announcement Monday Beijing time: Huaxia Film Distribution Co, Relativity Media, and SkyLand (Beijing) Film-Television Culture Development Ltd jointly announced a strategic partnership. Huaxia Film’s Executive Chairman Guoqing Gu, Relativity Media’s founder and CEO Ryan Kavanaugh, SAIF Partners’ Managing Partner Andy Yan, and IDG China Media’s Founding Partner Hugo Shong attended the press conference. Three parties — Relativity, SAIF, and IDG – also announced the formation of the first China/U.S. distribution company Sky Land Entertainment. Huaxia is one of the biggest movie production and distribution companies in China, releasing more films there than almost any other company. Sky Land has been prominent in the production, financing and distribution of Chinese content films in the past few years.
Said Kavanaugh: ”We’re excited to be entering into this ground breaking partnership. With 6 new screens added daily in China and a business which has been tripling in revenue every 3 years, it is unquestionable that China and the United States must work closely together to build an entertainment business for the future, which strives to make and release global product appealing to worldwide audiences. This is a critical first step in achieving just that.”
According to the announcement, ”several cross-border hits will be co-produced. The three parties are said to be working on some high-budgeted China-themed movies, which are based on famed modern historical events. The purpose is to create movies which will be appealing to both Chinese and western audiences alike, attracting strong national and international box office success.”
SUNDAY 3:25 AM: By the fussy way Ryan Kavanaugh’s company is acting, you’d think it was The Second Coming. Wake me when the announcement is over, please. Besides, these new business ventures are a dime a dozen these days.
Editor-in-Chief Nikki Finke - tip her here.
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Agreed – Didn’t Chernin announce a China/Asia venture last year? Hearing crickets from it so far.
Can we all please stop pretending that Relativity is a solvent company that didn’t bet their over-leveraged farm on a $150 million immortals movie that will sink them.
They actually spent $150m on that Immortals movie?! Yikes. I hope they have enough red ink for the books on that disaster.
The death clock has been ticking on Relativity for a while now but frankly I wouldn’t be surprised if Mr Kavanaugh somehow manages to avoid this impending financial apocalypse and stay in the biz.
If Harvey can still keep the lights on at the Weinstein Company despite having a seemingly lethal allergy to profit frankly anything is possible.
Don’t tell us you’re not excited by yet more ways for Ryan Kavanaugh to blow other people’s money.
I’d say that between the trip he’s on now, and all the other trips he’s taken to China at that GV. He’s spent more money on plane and helicopter fuel then they’ll ever make back.
Immortals is not a $150mm movie. With tax incentives, I probably clocks in at under $100mm. There’s no reason to dump on Relativity with a false assumption.
What is not a false assumption is their cash shortage. Big time. Widely known.
The filmmakers have said Immortals cost $150 so suggesting that there are magical “tax incentives” that take that down below 100 is laughable. The press may fall for Ryan’s lies but the town is wise.
I have to sell all my Relativity Media stocks. Is it anyone interested?
“Huaxia is one of the biggest movie production and distribution companies in China”? Are you talking about “Huayi” or “Huaxia”? To my knowledge, Huaxia is a state-owned company under China Film Group, and the two are actually one. Huaxia never produces its own film, only serves as a distribution company, quite marginal, in China.
Yes, Peter has entered the fast-growing environement/scene of planned U.S.-China Co-Productions
With the music and film industry tied closely together – it will be interesting to how music events/situations such as the I Sing Beijing (opera singers from around the world being trained in Chinese opera), AEG China’s presence, Will.I.Am’s planned concert in Beijing raising funds for APSA/Michelle Obama’s “100,000 Strong Initiative” and AAA Celebrations music concert where Hollywood celebrates the influence of China/Asia in films.
I will say this only once, and will not repeat again….if the studios in Hollywood are smart business people….they must now expand into opening studios and make films in Hongkong, Singapore, Australia….find a way to make films in English and work with different cultures in order to keep the film industry going in the future…..lots of companies in other industries have already set up shops there and making lots of $$$$$. Hollywood is far behind the game for being ignorant, closed minded, racist, too greedy and not ” open minded “……observe the US economy and start expanding now! The more experiences we have in life , the more well rounded and cultured we are….different people, different cultures are not things to be feared, but are there for us to explore, embrace and enjoy the different experiences that life has to offer. Other countries have different beautiful things to show and offer to us, each country is unique in its own way….and the three mentioned above have cash and strong economies…..this is a life vest advise I’m giving you! All the studios should start setting up shops now there…..
Jesus… Worst comment I’ve ever read. Thanks for opening this window of incredible insight, now go punch your English tutor in the face.
We’ll take you at your word that we won’t have to read this crap again.
Every studios tried producing Chinese film, and except Sony in the late 1990′s which were really Hong Kong production shot in China, the result is very mixed. Please get out of your flower child mindset and learn of the creative restriction the Chinese authorities place on the film industry before posting anything about China.
every notice how NOBODY ever has ANYTHING nice to say about Ryan?
at least Harvey..at his worst, made good films.
but what am I thinking..Ryan DID propose to his girlfriend at the Super Bowl..and she’s a BALLERINA
who was in the tour REGIONAL touring company of ‘Dirty Dancing.’
Harvey has destroyed just as many good films as he’s released good films. Speak to any of the aggrieved directors and they’ll tell you how that experience practically ruined their lives and careers. Ryan Kavanaugh has never inflicted that kind of damage on the films he’s financed or picked up. I’ll never understand the hatred directed to this man while Weinstein gets a free pass (most of the time). You wouldn’t have had THE FIGHTER without Relativity and they’ve contributed financing to a bunch of other solid films over the years (Social Network, etc.) Their upcoming slate is much improved as well, although I don’t know about IMMORTALS – looks underwhelming and stale. And with so few buyers in this town, why wish for the demise of a company that actually makes films. I’d rather see Weinstein Co. go under anyday.
You wouldn’t have had THE FIGHTER without The Weinstein Company. They put up paper north of 20mm in exchange for the foreign rights that enabled Relativity to finance the picture with a bank loan.
The fundamental difference between Ryan and Harvey is this:
Harvey gives a shit about movies. Ryan does not. Ryan considers them widgets. Harvey reads every word of every script they’re making. Ryan doesn’t have the attention span to read an entire script. Harvey’s entire team reads scripts. Ryan’s team does not. Tucker Tooley hasn’t read any of the scripts of the films they have in production. In fact, sometimes the script coverage is too long for him to read, so they “cover” the coverage and color code the important sentences.
Relativity is run by a bunch of people who don’t really know anything about the movie business. And those that do know, have left.
Harvey tried to talk Ryan out of making The Immortals. We’ll find out who’s correct on 11-11-11
Pathetic. Kavanaugh knows nothing about China. He keeps slinging out press releases out while his ship goes down.
O VERY VERY GOOD! MO FILMS ABOUT CHINESE HISTORY, JUST WHAT EVERYBODY WANTS! fucking idiots- “partnering on productions” with a government that doesn’t allow films to have time travel or negative commentary about the state, yeah that’s really going to fly with the rest of the world. Relativity knows this and is only after a strategic distribution deal, to be a bigger part of the Chinese hollywood film quota. Smart move as long as they dont bring that communist crap over here.
this venture seems more serious and grounded than most; it may work…and, again, nikki knocks ‘the wrap’ to hell and back in breaking this story and its juicy details.
phb – louisiana