Relativity, Huaxia form film partnership
Updated: 2011-08-15 17:17
(Agencies)
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Hollywood film studio Relativity Media LLC said Sunday it is launching a partnership with the Huaxia Film Distribution Co Ltd and SkyLand (Beijing) Film-Television Culture Development Ltd.
Separately, Relativity, along with private-equity firm SAIF Partners and IDG China Media, said they were forming Sky Land Entertainment, a China-US distribution company that will develop and produce films.
In a conference call, Relativity Chief Executive Ryan Kavanaugh said that China's film market has always been an enigma to the US film industry. This new alliance, he said, will "help bridge these two worlds."
As part of the partnership, Relativity will begin distributing its films in China under the SkyLand banner. Its upcoming films include the mythological action film "Immortals" and its untitled Snow White film starring Julia Roberts.
In a statement released before the call, Kavanaugh said that China has the world's fastest-growing film market and that the new strategic partnership is intended to grow a distribution business to bring "global product to China" as well as bring "Chinese product to the global market."
In the conference call, Kavanaugh said the idea for the partnership kicked into high gear during the most recent Cannes Film Festival, when he met with representatives from SAIF and IDG. The latter two companies later introduced Relativity to Huaxia.
Kavanaugh said he quickly realized that in order for any partnership to make a difference in China, it would need to involve the government. SkyLand provides that connection, as well as creates a singular gateway between the two countries, he said.
Huaxia Film's executive chairman, Guoqing Gu, said that the partnership was meant to accelerate the number of co-productions between the film studios and "broaden the cooperation platform" between the countries. He also said he hopes the partnership will increase the availability of Chinese films around the world and "offer international audiences a better understanding of Chinese culture."
The three partners are currently co-producing a number of different China-themed films based on historical events that the companies hope will appeal to both Western and Eastern audiences.
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