(From Hollywood Reporter)
Alibaba Pictures, the Chinese film studio set up by Jack Ma’s e-commerce giant Alibaba, announced an agreement Monday to invest in two Paramount Pictures films, ‘Teenage Mutant Ninja Turtles: Out of the Shadows’ and ‘Star Trek Beyond.’
The deal follows Alibaba Pictures investment and marketing partnership last year on Paramount’s ‘Mission Impossible: Rogue Nation.’
The two films ares slated for released in North America this summer. They are expected to be imported into China as revenue-sharing films under the state distribution apparatus by China Film Group and HuaXia Film in the second half of 2016.
Alibaba is expected to again serve as a local marketing, promotion and merchandising partner, as it did for Mission Impossible.
We had a great experience working with Paramount on ‘Mission Impossible,’ and are very excited to join forces again for these two pictures, both of which have terrific fan bases in China that we hope to cooperate with Paramount to grow even larger,” said Zhang Wei, President of Alibaba Pictures. Read More