Chinese Companies: Turnaround Plan and Warner Bros

chinese companies: The deal comes as parent company Viacom focuses on a turnaround plan under new Chief Executive Officer Bob Bakish, according to Global Times China. It also follows a series of tie-ups between China and US producers, with Chinese investors increasingly keen to lend their financial muscle to boost their stake in Hollywood. As part of the agreement, Shanghai Film Group and Huahua Media will finance a combined 25 percent of all of Paramount's films for the next three years, with the option to extend to a fourth year, a source familiar with the situation said. US studios such as Warner Bros, Walt Disney Co, Dreamworks, Lionsgate and STX Entertainment have all made tie-ups with Chinese companies to fund productions or help boost their presence in China's fast-growing film market. Shanghai Film Group and Huahua Media said in a statement with Paramount that they aim to deepen their cooperation on film projects through the deal. Last year, Chinese real estate conglomerate Dalian Wanda Group spent 3.5 billion to buy a controlling stake in US film studio Legendary Entertainment, while Paramount worked with Alibaba Pictures Group in 2015 to promote Mission Impossible -Rogue Nation in China. (news.financializer.com). As reported in the news.