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CHINESE MOVIE STUDIO TO OPEN SUBSIDIARY IN U.S.

September 16, 2014 by · Leave a Comment 

Until now, traffic between Hollywood and Beijing has mostly flowed one way — with most of Hollywood’s major studios setting up subsidiaries or joint ventures on the Chinese mainland. However, last month Wanda Group, which owns the AMC theater chain, announced that it plans to set up offices in Hollywood to oversee its investments in the U.S. entertainment business, and on Monday Huayi Brothers, China’s top film studio (its eight 2013 releases grossed $487.6 million on the mainland), announced plans to invest $130 million in a U.S. subsidiary. The company already has several English-language films in the hopper, including the war movie Fury, starring Brad Pitt and Shia LaBoeuf, scheduled for release in October.