Fosun International, one of China’s biggest investment firms, has become the largest investor in Studio 8, a U.S. production company led by movie executive Jeff Robinov.
The two companies held negotiations in Hong Kong on Monday, Yibada.com said, adding that the amount of Fosun’s investment has not been specified but it is believed to be over $200 million.
The Culver City, California-based Studio 8 has $1 billion in capital due to a deal with Sony Pictures Entertainment to produce 24 films over the next five years.
In its annual report issued Monday in Hong Kong, Fosun said it “held 80% equity interest in Class A investors of Studio 8, and the shares held by Class A investors represent 60% of the total share capital of Studio 8”.
Fosun will distribute the movies produced by Studio 8 in China, Hong Kong, Macau and Taiwan as it builds a “global media entertainment investment, financing and operating platform”.
Based on the data in the report, Fosun is estimated to have a 48% economic interest in the company, although it is unlikely to have management control.
“Our movies will be handled in China on a picture-by-picture basis through a distributor chosen by us and Fosun, ” Studio 8 founder and CEO Robinov said in November.
Robinov has helped oversee some of the most commercially successful and critically acclaimed films and franchises in recent years, including “The Dark Knight” trilogy “The Hangover” films, “Argo” and “Gravity”, according to movie database iMDB.