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arts & creative industries
Warner Bros. backs US$1 billion film venture in Hong Kong

A new U.S.-China entertainment venture will be set up in Hong Kong.

American entertainment giant Warner Bros. is partnering with private equity firm China Media Capital on a US$1 billion venture – Flagship Entertainment Group – to be headquartered in Hong Kong.

Flagship Entertainment will develop, produce and distribute a slate of Chinese-language films for distribution in China and around the world. The first titles could be released as soon as 2016.

Welcoming the announcement, Hong Kong Chief Executive C.Y. Leung said the collaboration highlighted that the cultural and creative industries in Hong Kong have international flavor.

“Thanks to a high degree of openness, capability of external cooperation, an edge in language ability and close ties with the outside world on community levels, Hong Kong has a unique advantage in collaboration in international scientific research and art and culture,” Mr. Leung said.


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