Zhang Yimou’s ‘Shadow’ Hit With Music Copyright Lawsuit

A lawsuit has cast a shadow over director Zhang Yimou’s stylish martial-arts epic “Shadow,” which won four prestigious Golden Horse Awards in Taipei last weekend, the most of any title. The movie’s soundtrack earned a nomination for best original…

A lawsuit has cast a shadow over director Zhang Yimou’s stylish martial-arts epic “Shadow,” which won four prestigious Golden Horse Awards in Taipei last weekend, the most of any title. The movie’s soundtrack earned a nomination for best original score for composer Loudboy (it did not win). But another composer has now accused “Shadow” producer […]

Chinese Actress Vicki Zhao Banned From Securities Markets

Prominent Chinese actress Zhao Wei (aka Vicki Zhao) has been banned for five years from holding senior positions in any listed company in China. The ruling was made by the Shanghai Stock Exchange on Tuesday. The punishment relates to the failed 2016 ta…

Prominent Chinese actress Zhao Wei (aka Vicki Zhao) has been banned for five years from holding senior positions in any listed company in China. The ruling was made by the Shanghai Stock Exchange on Tuesday. The punishment relates to the failed 2016 takeover bid announced by Tibet Longwei, a company controlled by Zhao and her […]

Feng Xiaogang Announces New Film, Denies Tax Fraud Rumors

Chinese director Feng Xiaogang is busy bolstering his patriotic credentials, revealing that his next film will be about Communist Party history even as he aggressively seeks to douse rumors that authorities plan to fine him 2 billion yuan ($288 million…

Chinese director Feng Xiaogang is busy bolstering his patriotic credentials, revealing that his next film will be about Communist Party history even as he aggressively seeks to douse rumors that authorities plan to fine him 2 billion yuan ($288 million) for tax evasion. His next venture will be a movie about the 70th anniversary of […]

‘Spider-Man: Spider-Verse’ and ‘Searching’ to Get China Theatrical Releases

Sony Pictures’ has succeeded in getting theatrical slots in mainland China for two of its key movies. Both will launch in the peak month of December. Sony Pictures’ family action-adventure, Spider-Man: Into the Spider-Verse, will be released on Dec. 21…

Sony Pictures’ has succeeded in getting theatrical slots in mainland China for two of its key movies. Both will launch in the peak month of December. Sony Pictures’ family action-adventure, Spider-Man: Into the Spider-Verse, will be released on Dec. 21 in Chinese theaters. Before that, Screen Gems’ critically-acclaimed and sleeper hit of the summer, Searching, will be released on December […]

Apple, Netflix’s Wall Street Pain Continues as Stock Market’s Yearly Gains Are Erased

The U.S. stock market’s pre-Thanksgiving decline continued on Tuesday, with prominent tech and media companies like Netflix and Apple unable to escape the recent downturn that has erased Wall Street’s 2018 gains.
All three major indexes end…

The U.S. stock market’s pre-Thanksgiving decline continued on Tuesday, with prominent tech and media companies like Netflix and Apple unable to escape the recent downturn that has erased Wall Street’s 2018 gains.

All three major indexes ended in the red on Tuesday, with the S&P 500, Down Jones Industrial Average and Nasdaq all dropping more than 1.7 percent. The Dow was hit hardest, falling 551 points and dropping 2.2 percent during the day. The tech sector’s swoon, which started about two months ago, has since extended to the rest of the market. The recent pummeling has wiped out the yearly gains for the S&P 500, Dow and Nasdaq.

Apple, the world’s richest company, wasn’t spared, as shares dropped 4.78 percent to $177 per share after Goldman Sachs lowered its stock price forecast on Tuesday morning. Since posting slightly underwhelming quarterly iPhone sales on Nov. 1, Apple shares have decreased about 20 percent.

Netflix’s rough month didn’t subside, either, with the streaming heavyweight falling another 1.34 percent to $267 per share. It’s been a rollercoaster year for Netflix shareholders: Its shares are down 37 percent from its 52-week high of $423 back in June — but still up 32 percent since the start of the year.

Facebook, after hitting its yearly low on Monday, ticked up slightly, increasing 0.67 percent to $132.43 on Tuesday. The modest gains did little to offset the losses that followed a critical report from The New York Times last week, saying CEO Mark Zuckerberg and COO Sheryl Sandberg were slow to react to multiple issues, including Russian trolls leveraging its platform, in the past two years. Facebook also used opposition research firms to target its critics and competitors, like Apple chief executive Tim Cook, according to the Times — something Zuckerberg said he “didn’t know” about until reading the report. Facebook shares have decreased 8 percent in the last week and are now down 27 percent on the year.

Facebook — hit by the Cambridge Analytica scandal and now tumbling after The New York Times reported the company’s top executives mishandled several issues — has dropped from $181 on January 1 to $132 per share on Tuesday (via Google)

And Amazon, after — according to CNBC — joining the bidding for Disney’s 22 regional sports networks from its Fox acquisition, dropped 1.11 percent to $1,495 per share.

Several factors have contributed to the market’s overall selloff, including uncertainty over China and U.S. trade relations, lingering fears the Federal Reserve could raise interest rates and uninspiring growth from many U.S. companies. Even fringe investments like cryptocurrency have taken a hit recently; the price of a single bitcoin has nosedived in the last month, falling 35 percent to about $4,200 per coin on Tuesday.

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China’s Oscars Go Dark After Winner Calls for Taiwan Independence, Controversy Erupts

The 2018 Golden Horse Awards have gone viral in China after filmmaker Fu Yue used her acceptance speech to rally behind Taiwan.

The Golden Horse Awards, the Chinese film industry’s equivalent of the Oscars, got overshadowed by controversy this year after Fu Yue, the director of Best Documentary winner “Our Youth in Taiwan,” used her acceptance speech to advocate for Taiwan’s independence. “I hope one day our country will be recognized and treated as a truly independent entity,” Fu said. “This is my biggest wish as a Taiwanese.”

According to China Film Insider, the audience at the Golden Horse Awards reacted awkwardly to Fu’s speech. Tension between mainland China and Taiwan has existed for decades. Although Taiwan has been self-ruling since 1949, Beijing still considers Taiwan to be a wayward province and has gone to great lengths to limit its independence. Most recently, Beijing pushed airlines to stop naming Taiwan a country.

Television and streaming coverage of the awards ceremony went black as Fu’s speech was censored in China for her remarks. Additionally, Chinese actress Gong Li reportedly declined to go on stage to announce the evening’s final winner after the controversy ignited by Fu’s speech. China Film Insider reports filmmakers skipped the post-ceremony dinner because of Fu, while some of the celebrity parties planned for afterwards were cancelled.

The controversy was amplified by Tu Men, a former Best Actor winner at the Golden Horse Awards. Following Fu’s speech, the actor referred to Taiwan as “Taiwan, China” during a public appearance at the Sun Yat-sen Memorial Hall in Taipei. The phrase is commonly used to belittle Taiwan’s independence. Taiwanese president Tsai Ing-wen then took to social media to celebrate Fu’s victory.

“We have never accepted the phrase ‘Taiwan, China’ and we never will accept this phrase, Taiwan is simply Taiwan,” Tsai wrote. “I am proud of yesterday’s Golden Horse Awards, which highlights the fact that Taiwan is different from China, and our freedom and diversity is why this is a land where artistic creations can be free.”

The controversy over Fu’s speech went viral in China. According to ABC News, a report on the story published by China Daily reached over 8 billion reads and 12 million comments on the Chinese social media platform Weibo. Fu’s award-winning film “Our Youth in Taiwan” is a documentary involving a Taiwanese student movement advocate, a celebrity Chinese student, and a Taiwanese documentary filmmaker talking about social change.

Fox And Disney Stocks Gain After Chinese Regulators Approve Merger – Update

UPDATED with closing stock prices. On an otherwise down day for stocks, 21st Century Fox and Disney shares both posted gains in the early going today after Chinese regulators approved the companies’ landmark merger without conditions.
Fox shares …

UPDATED with closing stock prices. On an otherwise down day for stocks, 21st Century Fox and Disney shares both posted gains in the early going today after Chinese regulators approved the companies’ landmark merger without conditions. Fox shares at one point were up more than 3%, though they gave ground to close at $48.91, up 1.6%. Disney’s popped about 1% in the early going, but ended up shedding a fraction to close at $115.42. Broader indices including the Dow, Nasdaq…

Golden Horse Awards Ceremony Sparks Political Firestorm in China and Taiwan

A politically charged acceptance speech at the Golden Horse Awards has become a flashpoint for the escalating tensions between China and Taiwan, prompting even recently chastised megastar Fan Bingbing to chime in with her support for the Communist-rule…

A politically charged acceptance speech at the Golden Horse Awards has become a flashpoint for the escalating tensions between China and Taiwan, prompting even recently chastised megastar Fan Bingbing to chime in with her support for the Communist-ruled mainland. The controversy immediately raised questions over the future of Asia’s most prestigious awards show – the […]

China’s Wanda Sells Prominent Beverly Hills Property

Chinese conglomerate Dalian Wanda has sold a landmark property in the heart of Beverly Hills that it once intended to be the headquarters of its entertainment empire. The disposal is Wanda’s latest move to retrench back to the Middle Kingdom as C…

Chinese conglomerate Dalian Wanda has sold a landmark property in the heart of Beverly Hills that it once intended to be the headquarters of its entertainment empire. The disposal is Wanda’s latest move to retrench back to the Middle Kingdom as China restricts capital outflows. London-based Cain International and Alagem Capital Group, headed by Israel-born […]

NetEase Discusses Importance of Chinese Gaming Regulation, Anti-Addiction Measures

China-based NetEase, one of the largest internet and video game companies in the world, said it’s not concerned about government regulation of video games and that it believes it will help gaming in the long term. The comments from NetEase CEO Wi…

China-based NetEase, one of the largest internet and video game companies in the world, said it’s not concerned about government regulation of video games and that it believes it will help gaming in the long term. The comments from NetEase CEO William Ding came during an earnings call this week. Over the summer, Tencent noted […]

Shanghai Debuts New Ocean Themed Park to Rival Disneyland

Move aside, Disneyland. Shanghai is now home to a second major theme park. On Friday, the city debuted the 73-acre, Haichang Ocean Park, some two and a quarter years after the doors opened at Shanghai Disneyland and Resort. The park is owned by Haichan…

Move aside, Disneyland. Shanghai is now home to a second major theme park. On Friday, the city debuted the 73-acre, Haichang Ocean Park, some two and a quarter years after the doors opened at Shanghai Disneyland and Resort. The park is owned by Haichang Ocean Park Holdings, which is listed on the Hong Kong Stock Exchange. […]

Cinedigm Losses Narrow In Q2 As OTT Channel Revenue Jumps 23%

Cinedigm, the former specialist in cinema gear now pivoting to OTT technology, reported second-quarter results with narrower losses and a 23% jump from its streaming channels business.
In the fiscal 2019 period ending September 30, the company’s …

Cinedigm, the former specialist in cinema gear now pivoting to OTT technology, reported second-quarter results with narrower losses and a 23% jump from its streaming channels business. In the fiscal 2019 period ending September 30, the company’s net loss of $3.6 million, or 9 cents per share, marked an improvement from the year-earlier loss of 60 cents a share. The top line reflected the strategic change of direction by the Chinese-owned company. Total revenue of $13.7…

China Mourns Stan Lee, Whose Last Creation Was a Chinese Superhero

Grief over the death of Stan Lee has taken the Internet by storm in China, with the local hashtag “Stan Lee has passed” trending No. 1 on social media and viewed more than a staggering 1.21 billion times by Wednesday evening – equivalent to nearl…

Grief over the death of Stan Lee has taken the Internet by storm in China, with the local hashtag “Stan Lee has passed” trending No. 1 on social media and viewed more than a staggering 1.21 billion times by Wednesday evening – equivalent to nearly once per person in the world’s most populous country. Fans […]

James Corden’s ‘Late, Late Show’ Lands in China

“The Late, Late Show With James Corden” is set to air in China. CBS Studios International has struck a deal with Chinese streaming giant iQIYI that covers current shows and makes past episodes available on demand. Chinese regulators’ attitude tow…

“The Late, Late Show With James Corden” is set to air in China. CBS Studios International has struck a deal with Chinese streaming giant iQIYI that covers current shows and makes past episodes available on demand. Chinese regulators’ attitude towards foreign content has ebbed and flowed, though growing political control of the media appears to […]

China Deletes 10,000 Social Media Accounts in Latest Crackdown

China’s Internet watchdog has scrubbed the country’s already highly-censored web of nearly 10,000 social media accounts in the past three weeks. It is the ruling Communist Party’s latest move to clamp down on freedom of expression. The cleanup began Oc…

China’s Internet watchdog has scrubbed the country’s already highly-censored web of nearly 10,000 social media accounts in the past three weeks. It is the ruling Communist Party’s latest move to clamp down on freedom of expression. The cleanup began Oct. 20, the Cyberspace Administration of China said in a statement posted late Monday to its official […]

Tom Hardy’s ‘Taboo’ Bought for China by Alibaba, Youku

Chinese e-commerce giant Alibaba and its streaming platform Youku have signed on to air the BBC drama “Taboo,” starring and created by Tom Hardy. Both companies also bought the rights to two additional children’s programs, “The …

Chinese e-commerce giant Alibaba and its streaming platform Youku have signed on to air the BBC drama “Taboo,” starring and created by Tom Hardy. Both companies also bought the rights to two additional children’s programs, “The Moe Show” and “Pop Up,” via separate deals brokered by London-based co-production, financing and distribution group The Media Pioneers. Youku […]

Mariah Carey, Miranda Kerr Lift Alibaba to Record Breaking Sales on ‘Singles Day’

In an orgy of online consumerism, Chinese shoppers snapped up a record $30.7 billion of merchandise on Sunday through Chinese e-commerce giant Alibaba. Western celebrities including Mariah Carey and Miranda Kerr were on hand to play up the invented fes…

In an orgy of online consumerism, Chinese shoppers snapped up a record $30.7 billion of merchandise on Sunday through Chinese e-commerce giant Alibaba. Western celebrities including Mariah Carey and Miranda Kerr were on hand to play up the invented festival called Singles Day, China’s equivalent of the U.S.’s Black Friday. Sales hit $1 billion in […]

‘Venom’ Coursing In China With $79M For $100M+ Weekend Bow; Will Lash Past $600M Global Box Office Today

SATURDAY UPDATE: Sony’s Venom has its jaw firmly clamped on China, taking $78.6M through Saturday in the market. With Sunday’s results, we’ll see a $100M+ opening, making it just the second superhero movie ever to hit the century mark during a 3-…

SATURDAY UPDATE: Sony’s Venom has its jaw firmly clamped on China, taking $78.6M through Saturday in the market. With Sunday's results, we'll see a $100M+ opening, making it just the second superhero movie ever to hit the century mark during a 3-day Middle Kingdom bow, behind only Avengers: Infinity War. China is helping to fuel Venom across the $600M global and $400M international box office thresholds through today. The estimated overseas portion is $431.6M; domestic is…

Tencent Will Verify Identities of Mobile Players Using Police Database

Chinese video game publisher and investment company Tencent is going to begin verifying the identities of all those who play its games in China via police database, according to The Wall Street Journal. The verification system will be in place to check…

Chinese video game publisher and investment company Tencent is going to begin verifying the identities of all those who play its games in China via police database, according to The Wall Street Journal. The verification system will be in place to check players’ identities and ages against the databases to enforce playtime limits. Players will […]

China Box Office: ‘Nutcracker’ Wins With $12 Million Opening

Lasse Hallstrom’s “The Nutcracker and the Four Realms” topped the Chinese box office with a far from festive $12 million opening score. It was one of six new titles to enter the top ten, which was worth a collective $40.8 million. The romantic fantasy,…

Lasse Hallstrom’s “The Nutcracker and the Four Realms” topped the Chinese box office with a far from festive $12 million opening score. It was one of six new titles to enter the top ten, which was worth a collective $40.8 million. The romantic fantasy, presented by Disney in most international markets, topped the Chinese charts […]

Filmula & E Stars To Finance Movies For China Distribution – AFM

Johnny Lin’s Filmula and Allen Liu‘s E Stars are teaming to finance U.S. and international movies for distribution in China, the parties said at AFM today. Filmula will produce and co-finance with E Stars films ranging from commercial tentp…

Johnny Lin’s Filmula and Allen Liu‘s E Stars are teaming to finance U.S. and international movies for distribution in China, the parties said at AFM today. Filmula will produce and co-finance with E Stars films ranging from commercial tentpoles to Oscar-driven material for E Stars to distribute. The deal also will incorporate Indian financing., they said. Lin was an executive producer of the Tom Cruise crime thriller American Made and, through his relationship with Brian…