A Chinese state-backed group has formed a $300m 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.
Michael Garin, Image Nation’s chief executive, said the deal with China Intercontinental Communication Center would foster closer collaboration between Chinese and international media companies. “We want to find projects where Hollywood and Chinese partners can collaborate,” he said.
The deal builds on a recent $10bn 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.
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