Chinese state-backed group has formed a film fund with Abu Dhabi

A Chinese state-backed group has formed a $300 million film fund with Image Nation Abu Dhabi, the media and entertainment company, to invest in movies and television programming produced in Hollywood, the United Arab Emirates and China… The deal builds on a recent $10 billion strategic investment fund launched by China and the United Arab Emirates last year and is the first extension of that relationship into the media industry… Image Nation’s latest project, The Circle, starring Tom Hanks and based on the novel by Dave Eggers, will be released next year… The CICC tie-up is a sign of increasing Chinese interest in filmed entertainment and comes amid a of flurry of Hollywood investment by Chinese companies… The Image Nation-CICC deal also includes the creation of a China-focused programming strand on Quest Arabiya, a channel owned by Image Nation and Discovery Communications, as well as a training programme aimed at media talent in the UAE and China.

 

Matthew Garrahan

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