Bona Film Group, a Chinese movie studio, recently announced it has poured in an investment worth $235 million for a Fox movie slate, which will be financed by The Seelig Group (TSG Entertainment Finance).
Through TSG, the Chinese firm is allowed to invest in the live-action movies of Fox. The agreement further gives Bona a stake in the title "The Martian," and in five other live-action tentpole movies from Fox.
"The Martian," which is scheduled to hit Chinese theaters on Nov. 25, is expected to rake in huge revenues as the film features local elements that space movies and sci-fi enthusiasts can relate to.
"China is a critical market to our long-term economic success. We are excited about our venture with Bona," TSG head Chip Seelig said.
Bob Seelig, a founding partner of TSG, also said: "We are pleased with the opportunity to add such a high-quality Chinese partner to the TSG Entertainment financing activities."
Among those upcoming Fox films that are likely to be covered by the deal are "X-Men: Apocalypse," "Independence Day: Resurgence," "War of the Planet of the Apes," and the Tim Burton-helmed "Miss Peregrine's Home for Peculiar Children."
For Bona's founder, chairman and CEO Yu Dong, their partnership with TSG Entertainment "underscores Bona's growing impact and brand awareness in the international film industry."
"We look forward to participating in more mainstream Hollywood productions and bringing high-quality foreign films to the domestic market," Yu added.
The agreement was developed by Pacific Media Group and was negotiated by Chip and Bona's COO, Jeffrey Chan.