Paramount inks $1B film co-finance deal with 2 Chinese firms
HONG KONG (AP) — Paramount Pictures said Friday it has inked a co-financing deal with two Chinese companies for the Hollywood studio's slate of movies over the next three years.
Chinese investors have been expanding into entertainment companies overseas in a bid to boost the country's international cultural influence, also known as "soft power," as well as acquire expertise.
Last year, Chinese conglomerate Dalian Wanda Group teamed up with Sony Pictures to make big-budget films while Steven Spielberg's Amblin Partners partnered with Chinese e-commerce giant Alibaba Group's media arm to co-produce films for global audiences.
