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Huayi Bros To Setup US Subsidiary
September 17, 2014
Chinese film giant Huayi Bros has announced it is launching a wholly owned US subsidiary to invest in movie and TV production, distribution and marketing. The company announced that the unit will be capitalized with US$130 million.
Previous efforts by Huayi Bros to expand into international markets have not gone according to plan. Back to 2011, the Group announced its intention to establish a JV with Legendary Pictures. The company did not materialize. Earlier this year, Huayi noted that it planned to take a stake in Hollywood independent Studio8, but that stake was taken by Chinese property giant Fosun International instead.
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