Jeff Robinov, founder and CEO of Studio 8, is behind the success of Hollywood films like "The Dark Knight" trilogy, "The Hangover" films and "Gravity." (Photo : Variety)
China's largest multi-industry company Fosun International is now the major investor of the American production company Studio 8.
The negotiation between the two companies took place in Hong Kong on Monday.
Fosun has allegedly invested over $200 million to Studio 8, as the amount was not specified during the filing.
The Chinese company revealed in a document released on Monday that it holds 80 percent equity interest in Class A investors of Studio 8, as the shares held by Class A investors represent 60 percent of the total share capital of Studio 8, which means that Fosun dominates 48 percent economic interest in Studio 8, Variety reported.
Studio 8, founded by Jeff Robinov, former executive of American media company Warner Bros., is based in Culver City, California, and has $1 billion capital due to a production deal with Sony Pictures Entertainment to produce a slate of 24 films in the next five years.
Robinov stated in November that the movies it will produce will be handled in China. This is prior to Fosun's annual report that it will distribute the movies produced by Studio 8 in China, Hong Kong, Macau and Taiwan as it establishes a global media entertainment investment financing and operating platform with focus on the global film and television industry and Chinese culture consumer market as its base.
The American production company will also co-produce with Bona Film Group, a Chinese film producer-distributor, for the wartime drama “Billy Lynn’s Long Halftime Walk,” to be directed by Taiwanese-born American film director Ang Lee.
Fosun owns 20 percent of Bona's equity stake.
On the other hand, the Chinese company together with Texas Pacific Group (TPG), an American private equity investment firm, has confirmed on Tuesday that they bought shares from Canadian entertainment company Cirque du Soleil allegedly valued at $1.5 billion.
The two companies are now the biggest shareholders of the largest theatrical producer in the world.
