Beijing-based studio Enlight Media is paying $245m for a 19% stake in China’s largest online ticketing platform Maoyan.
In addition, Enlight Media’s parent company Enlight Holding will acquire a 38.4% stake in Tianjin Maoyan Culture Media for $122.5m in cash and a 6% stake in Enlight Media.
Following the deal, which values Maoyan at around $1.3bn (RMB8.3bn), Chinese billionaire Wang Xing’s stake in the company would be reduced from 85.5% to 31%. The deal is subject to shareholder approval.
Wang Xing is the founder of ecommerce site Meituan.com, which merged with rival Dianping last year. It was announced last month that Maoyan would be spun off from Meituan-Dianping to enable the platform to grow and face competition from rival services.
“We will provide appropriate industry resources to strengthen Maoyan’s involvement in upstream businesses and create a leading internet + integrated entertainment platform,” said Enlight founder and chairman Wang Changtian.
Maoyan covers around 5,200 Chinese cinemas and 120 million users. In...
In addition, Enlight Media’s parent company Enlight Holding will acquire a 38.4% stake in Tianjin Maoyan Culture Media for $122.5m in cash and a 6% stake in Enlight Media.
Following the deal, which values Maoyan at around $1.3bn (RMB8.3bn), Chinese billionaire Wang Xing’s stake in the company would be reduced from 85.5% to 31%. The deal is subject to shareholder approval.
Wang Xing is the founder of ecommerce site Meituan.com, which merged with rival Dianping last year. It was announced last month that Maoyan would be spun off from Meituan-Dianping to enable the platform to grow and face competition from rival services.
“We will provide appropriate industry resources to strengthen Maoyan’s involvement in upstream businesses and create a leading internet + integrated entertainment platform,” said Enlight founder and chairman Wang Changtian.
Maoyan covers around 5,200 Chinese cinemas and 120 million users. In...
- 5/31/2016
- by lizshackleton@gmail.com (Liz Shackleton)
- ScreenDaily
Alibaba revealed further details of its streaming service and crowdfunding platform at Siff Forum, where talk revolved around the convergence of China’s movie and internet industries and new financing models.
Shanghai International Film Festival’s Siff Forum spent the first two days debating how the entry of Bat (Baidu, Alibaba and Tencent) and other tech giants will impact a film industry that has only existed as a commercial enterprise for the past 15 years.
Speaking at the first session, Alibaba’s digital chief Patrick Liu said the company would launch an Svod and Tvod streaming service, Tmall Box Office (Tbo), in the next two months. Content will be sourced from China and overseas studios such as Lionsgate, which struck a streaming deal with Alibaba last year.
On the sidelines of the forum, Alibaba also revealed further details of its Yulebao crowdfunding platform, which has already raised $110m for around 20 Chinese movies and, if regulations...
Shanghai International Film Festival’s Siff Forum spent the first two days debating how the entry of Bat (Baidu, Alibaba and Tencent) and other tech giants will impact a film industry that has only existed as a commercial enterprise for the past 15 years.
Speaking at the first session, Alibaba’s digital chief Patrick Liu said the company would launch an Svod and Tvod streaming service, Tmall Box Office (Tbo), in the next two months. Content will be sourced from China and overseas studios such as Lionsgate, which struck a streaming deal with Alibaba last year.
On the sidelines of the forum, Alibaba also revealed further details of its Yulebao crowdfunding platform, which has already raised $110m for around 20 Chinese movies and, if regulations...
- 6/15/2015
- by lizshackleton@gmail.com (Liz Shackleton)
- ScreenDaily
Andrew Dominik, the New Zealand writer-director of Chopper, Killing Them Softly and the criminally under-seen western The Assassination Of Jesse James By The Coward Robert Ford will next write the screenplay for Shaolin Temple, the big-budget remake of the 1982 Shaw Brothers classic, for Justin Lin.The Fast And Furious director is currently in production on the latest instalment of The Bourne Identity franchise, but will then turn his attentions to this 3D reinterpretation of the film that debuted the talents of a young Jet Li more than three decades ago. Produced by Troy Craig Poon of Perfect Storm Entertainment, Bruno Wu of Seven Stars and Wang Changtian of Beijing Enlight Pictures, this Chinese co-production has already been tagged as a large scale tentpole release with...
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- 8/25/2014
- Screen Anarchy
Shaolin Temple
Andrew Dominik ("Chopper," "Killing Them Softly") has come onboard to write the Justin Lin-directed China-set 3D feature "Shaolin Temple" for Perfect Storm Entertainment and Beijing Enlight Pictures. Troy Craig Poon, Bruno Wu and Wang Changtian are producing.
A remake of the 1982 film which served as Jet Li's screen debut, the story is set in the period between China's Sui and Tang Dynasties. When the Tang emperor is betrayed by one of his generals, the son of one of his slave workers escapes to the temple, trains in kung fu, and sets out to kill the traitor. [Source: Deadline]
The Whites
Sony Pictures is in negotiations to option the film rights to "Clockers" and "The Wanderers" author Richard Price's upcoming crime novel "The Whites" for Scott Rudin to produce.
The story follows detective Billy Graves, whose tainted past comes back to haunt him when he takes on a...
Andrew Dominik ("Chopper," "Killing Them Softly") has come onboard to write the Justin Lin-directed China-set 3D feature "Shaolin Temple" for Perfect Storm Entertainment and Beijing Enlight Pictures. Troy Craig Poon, Bruno Wu and Wang Changtian are producing.
A remake of the 1982 film which served as Jet Li's screen debut, the story is set in the period between China's Sui and Tang Dynasties. When the Tang emperor is betrayed by one of his generals, the son of one of his slave workers escapes to the temple, trains in kung fu, and sets out to kill the traitor. [Source: Deadline]
The Whites
Sony Pictures is in negotiations to option the film rights to "Clockers" and "The Wanderers" author Richard Price's upcoming crime novel "The Whites" for Scott Rudin to produce.
The story follows detective Billy Graves, whose tainted past comes back to haunt him when he takes on a...
- 8/22/2014
- by Garth Franklin
- Dark Horizons
Exclusive: Here’s a China-set project worth getting excited about. Andrew Dominik, the writer-director of Chopper and Killing Them Softly, has been set to write the script for Shaolin Temple for Fast And Furious‘ Justin Lin to direct. The film is backed by Perfect Storm Entertainment and Beijing Enlight Pictures with Beijing Enlight also distributing. Troy Craig Poon of Perfect Storm Entertainment, Bruno Wu of Seven Stars and Wang Changtian of Beijing Enlight are producing.
The 3D film is a remake of the 1982 film which marked the screen debut of iconic martial artist Jet Li, and was based on Shaolin folklore and set during the transition period between the Sui Dynasty and the Tang Dynasty. When the Tang emperor is betrayed by one of his generals, the son of one of his slave workers escapes to the temple, trains in kung fu, and sets out to kill the traitor. This...
The 3D film is a remake of the 1982 film which marked the screen debut of iconic martial artist Jet Li, and was based on Shaolin folklore and set during the transition period between the Sui Dynasty and the Tang Dynasty. When the Tang emperor is betrayed by one of his generals, the son of one of his slave workers escapes to the temple, trains in kung fu, and sets out to kill the traitor. This...
- 8/22/2014
- by Mike Fleming Jr
- Deadline
"Fast and Furious" 3-6 helmer Justin Lin is set to make his Chinese language debut directing a remake of the 1982 Jet Li career launching kung-fu feature "Shaolin Temple".
Beijing Enlight Pictures Co. Ltd., Seven Stars and Perfect Storm will produce the 3D project which is a while off as pre-production is expected to take up to two years. No specific filming start date is yet set.
The original film is set in the period between China's Sui and Tang Dynasties. When the Tang emperor is betrayed by one of his generals, the son of one of his slave workers escapes to the temple, trains in kung fu, and sets out to kill the traitor.
Troy Craig Poon, Bruno Wu and Wang Changtian will produce the new version which is expected to be budgeted over $100 million.
Lin is presently at work as executive producer on "Fast and Furious 7" and is attached...
Beijing Enlight Pictures Co. Ltd., Seven Stars and Perfect Storm will produce the 3D project which is a while off as pre-production is expected to take up to two years. No specific filming start date is yet set.
The original film is set in the period between China's Sui and Tang Dynasties. When the Tang emperor is betrayed by one of his generals, the son of one of his slave workers escapes to the temple, trains in kung fu, and sets out to kill the traitor.
Troy Craig Poon, Bruno Wu and Wang Changtian will produce the new version which is expected to be budgeted over $100 million.
Lin is presently at work as executive producer on "Fast and Furious 7" and is attached...
- 1/17/2014
- by Garth Franklin
- Dark Horizons
Justin Lin, the director soon to jump onto the next movie in the Jason Bourne franchise for August next year, has signed a deal with Perfect Storm Entertainment to direct a Mandarin-language remake of 1982′s Jet Li introductory vehicle Shaolin Temple.
The movie would be budgeted at over $100 million dollars and is poised to matter as it might be timed to be the biggest hit when China becomes the world’s largest film-going market. That’s if Lin makes this his post-Bourne project.
“We will commence only when we feel this is ready,” says Perfect Storm Entertainment CEO Troy Craig Poon. The 1982 Shaolin Temple was a Hong Kong martial arts movie directed by Chang Hsin Yen. The original story was based on Shaolin folklore and set during the transition period between the Sui Dynasty and the Tang Dynasty. When the Tang emperor is betrayed by one of his generals, the...
The movie would be budgeted at over $100 million dollars and is poised to matter as it might be timed to be the biggest hit when China becomes the world’s largest film-going market. That’s if Lin makes this his post-Bourne project.
“We will commence only when we feel this is ready,” says Perfect Storm Entertainment CEO Troy Craig Poon. The 1982 Shaolin Temple was a Hong Kong martial arts movie directed by Chang Hsin Yen. The original story was based on Shaolin folklore and set during the transition period between the Sui Dynasty and the Tang Dynasty. When the Tang emperor is betrayed by one of his generals, the...
- 1/17/2014
- by Da7e
- LRMonline.com
Wang Changtian, the president of China's Enlight Media, has been selected to receive the CineAsia Production & Filmmaker Award at this year's convention in Hong Kong. Enlight Media has grown under Wang's leadership into the country's largest private media and entertainment company. It produces film, TV, awards shows, new-media content and houses a talent agency. Says Robert H. Sunshine, co-managing director of CineAsia, "Wang's entrepreneurial spirit in founding Enlight Media 15 years ago has led to it becoming the largest and fastest-growing private media entertainment company in China." CineAsia, produced by The Hollywood Reporter parent company
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- 9/4/2013
- by THR Staff
- The Hollywood Reporter - Movie News
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