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CHINESE FUND TO INVEST $800 MILLION IN HOLLYWOOD

February 6, 2012 by · Leave a Comment 

Bruno Wu

Chinese media mogul Bruno Wu is teaming up with Harvest Fund Management, China’s fourth-largest investment-fund management company, to create a massive $800-million fund that will invest in tentpole productions in Hollywood and elsewhere that appeal to Chinese audiences, the New York Times reported today (Monday). In an interview with the newspaper, Wu mentioned that films like the recent Mission: Impossible — Ghost Protocol, a huge hit in China, are the kind that the fund would seek to invest in. He said it would also be interested in alliances with companies such as DreamWorks, which is losing its financing partner, India’s Reliance. The new venture is being advised by the Beijing office of Creative Artists Agency (CAA), and, commented the Times, “Given the agency’s involvement and the producer negotiations under way, the new venture appears to be pointed toward a Hollywood alliance sooner rather than later.” (In a separate interview with the Hollywood Reporter, Wu said he expects to disclose deals with Hollywood producers “within the next 30 days or so.”)