Former president of Warner Brothers Motion Picture group, Jeff Robinov, secured backing from China’s Fosun Group to form his new project, Studio 8. The company is expected to release six features per year. Studio 8 will also develop TV and digital content, some with Chinese elements and titles. Fosun is the largest conglomerate in China, and will invest $1 billion in the deal with Studio 8.
The deal is expected to be challenging for competitors such as Sony and Warner Bros., as Robinov’s creations at Warner Bros are still bearing fruit, and are signs future success with Studio 8. Without Robinov, it is hard to imagine replicating the appeal of the multi-Oscar winning Gravity. The Lego Movie has been one of the highest grossing films of 2014.