China’s state-owned film distributor is making its first investment in Hollywood movies by taking a stake in two Legendary Entertainment productions. The corporation is expected to invest millions of dollars in two films, Seventh Son and Warcraft, the Chinese unit of Legendary Entertainment has said.
“Seventh Son” is an adventure starring Jeff Bridges and Julianne Moore and is scheduled for release on Feb. 6, 2015, while “Warcraft,” based on a popular video game series, is slated for release March 11, 2016.
If approved for release in China, China Film would distribute the movies under current rules and regulations for foreign films, which are limited to just 34 a year. The deal calls for China Film to be credited on the movies.
China Film, which is planning to go public, owns stakes in movie theater chains that make up half of the country’s box office receipts. Its parent, China Film Group, is the gatekeeper for foreign studios since it controls film imports and co-productions.
The projects are the first since Legendary and China Film teamed up about a year ago to produce global blockbusters. It’s one of a number of recent tie-ups between companies in the world’s two biggest movies markets.