Alibaba to Take Majority Control of Alibaba Pictures

Chinese e-commerce giant Alibaba is to take majority control of its films unit Alibaba Pictures. The $160 (HK$1.25 billion) deal was announced on Monday. The companies said that Alibaba will increase its stake in Hong Kong- and Singapore-listed Alibaba…

Chinese e-commerce giant Alibaba is to take majority control of its films unit Alibaba Pictures. The $160 (HK$1.25 billion) deal was announced on Monday. The companies said that Alibaba will increase its stake in Hong Kong- and Singapore-listed Alibaba Pictures, through a share subscription. It will lift the parent company’s stake from 49% to 51%, […]

Singapore Unveils Grant Scheme for Asian Film Coproduction

The Singapore government is to launch a new scheme to fund film co-production in Southeast Asia. It will offer grants worth S$250,000 or US$183,000 per film. The initiative was announced Wednesday by Minister for Communications and Information S. Iswar…

The Singapore government is to launch a new scheme to fund film co-production in Southeast Asia. It will offer grants worth S$250,000 or US$183,000 per film. The initiative was announced Wednesday by Minister for Communications and Information S. Iswaran during the Singapore Hour at the Asia TV Forum. The ATF is part of the annual […]

China’s Bilibili Pitches Itself as Int’l Production Partner

Bilibili, a specialty Chinese video platform best known for animation and games content, is setting out a stall as a viable and attractive partner for international co-productions. A presentation of so-called bullet comments (real-time audience feedbac…

Bilibili, a specialty Chinese video platform best known for animation and games content, is setting out a stall as a viable and attractive partner for international co-productions. A presentation of so-called bullet comments (real-time audience feedback that overlays on-screen content) drew gasps from an audience of executives at the World Congress of Science & Factual […]

Australian Court Gives Approval for Mega Merger of Nine and Fairfax

BRISBANE — An Australian federal court has given approval for the acquisition of Nine Entertainment and Fairfax Media, creating Australia’s largest media conglomerate. The decision is the last stage of regulatory approval, but it could still be c…

BRISBANE — An Australian federal court has given approval for the acquisition of Nine Entertainment and Fairfax Media, creating Australia’s largest media conglomerate. The decision is the last stage of regulatory approval, but it could still be challenged. The court in Sydney, ruled on Tuesday for the takeover of Fairfax by Nine, in a deal […]

India Planning Tax Incentives for International Co-Productions

India is planning to offer federal tax incentives and investment in international co-productions. It intends to the country as a financially attractive destination for films and TV series. While the plan is still at a nascent stage, the aim is to have …

India is planning to offer federal tax incentives and investment in international co-productions. It intends to the country as a financially attractive destination for films and TV series. While the plan is still at a nascent stage, the aim is to have a document ready by May, to be announced during Cannes 2019, Ashok Kumar […]

Australia’s Fairfax Media Shareholders Approve Nine Entertainment Takeover

Shareholders at Fairfax Media have voted overwhelmingly in favor of the proposed takeover by Nine Entertainment. The proposed deal would create one of the largest groups in Australian media, spanning free-TV, streaming, radio, newspapers and digital pu…

Shareholders at Fairfax Media have voted overwhelmingly in favor of the proposed takeover by Nine Entertainment. The proposed deal would create one of the largest groups in Australian media, spanning free-TV, streaming, radio, newspapers and digital publishing. At a Fairfax shareholders meeting on Monday, 81.5% of shares voted were in favor of the deal. The […]

Saudi Fund Mulling $700 Million Investment in Legendary (Report)

Saudi Arabian sovereign-wealth fund PIF is exploring the possibility of acquiring a stake worth up to $700 million in Wanda-owned Legendary Entertainment, according to a report by the Reuters news agency. The Reuters story, citing unnamed sources, said…

Saudi Arabian sovereign-wealth fund PIF is exploring the possibility of acquiring a stake worth up to $700 million in Wanda-owned Legendary Entertainment, according to a report by the Reuters news agency. The Reuters story, citing unnamed sources, said Thursday that Saudi Arabia’s Public Investment Fund is seeking to invest about $500 million to $700 million in Legendary, […]

Tencent Profits up 19% Despite Game Industry Woes

Tencent, China’s giant new media conglomerate, which has been battered by problems in its games division, unveiled third quarter results showing a 19% increase in non_GAAP net profits of $2.97 billion, on revenue up 24% to $11.7 billion. Expresse…

Tencent, China’s giant new media conglomerate, which has been battered by problems in its games division, unveiled third quarter results showing a 19% increase in non_GAAP net profits of $2.97 billion, on revenue up 24% to $11.7 billion. Expressed on a GAAP basis, which the company prefers, net profits were up 30% at $3.4 billion (RMB23.4 […]

Hong Kong’s I-Cable Seeks $88 Million for Content and Restructuring

Hong Kong’s cable network provider i-Cable Communications has unveiled an $88 million (HK$692 million) share issue. It is intended to restructure the company and invest in new content. The share issue is structured as a 1-for-1 rights issue, with new s…

Hong Kong’s cable network provider i-Cable Communications has unveiled an $88 million (HK$692 million) share issue. It is intended to restructure the company and invest in new content. The share issue is structured as a 1-for-1 rights issue, with new shares offered at HK$0.109, a 38% discount to the last stock trade on Friday. I-Cable […]

Vietnamese Cinema Chain’s IPO Halted by CJ CGV

CJ CGV, South Korea’s leading multiplex cinema chain, has called off a plan to separately list its Vietnamese subsidiary on the Korean stock market. It will raise cash through a debt issue instead. The unit is the largest exhibition chain in Vietnam an…

CJ CGV, South Korea’s leading multiplex cinema chain, has called off a plan to separately list its Vietnamese subsidiary on the Korean stock market. It will raise cash through a debt issue instead. The unit is the largest exhibition chain in Vietnam and accounts for a 45% share of the box office market. A prospectus […]

Alibaba Pictures Cuts Losses to $22 Million

Alibaba Pictures Group, the film services and production division of Chinese e-commerce giant Alibaba, saw its revenues increase by 29% in the six months between April and September. Its net losses decreased. Revenues increased from RMB1.18 billion to …

Alibaba Pictures Group, the film services and production division of Chinese e-commerce giant Alibaba, saw its revenues increase by 29% in the six months between April and September. Its net losses decreased. Revenues increased from RMB1.18 billion to $220 million (RMB1.53 billion) in the period reflecting growth across its three business units: Internet-based promotion and […]

Taiwan Expands Production Incentives Scheme

The Taipei Film Commission is to make international access to its incentive scheme easier. The thresholds for access will be scrapped, and the existing subsidy system will be replaced with an investment scheme. The changes were announced today in Los A…

The Taipei Film Commission is to make international access to its incentive scheme easier. The thresholds for access will be scrapped, and the existing subsidy system will be replaced with an investment scheme. The changes were announced today in Los Angeles, on the margins of the American Film Market. Under current regulations, foreign directors or […]

Sony Pictures Scores Profits of $211 Million in Second Quarter

Sony’s pictures division returned to profit in the July to September quarter, registering a net profit of $211 million. That figure compares with a loss of $69 million in the April to June quarter, and a $69 million profit in the equivalent quart…

Sony’s pictures division returned to profit in the July to September quarter, registering a net profit of $211 million. That figure compares with a loss of $69 million in the April to June quarter, and a $69 million profit in the equivalent quarter last year. Revenues at the unit were $2.16 billion, fractionally down from […]

Wanda Denies Legendary Entertainment Sale Talk

China’s Dalian Wanda group has denied reports that it is seeking to sell a minority stake in Legendary Entertainment, the production company behind “Pacific Rim” and the revived “Godzilla” and “Jurassic World” franchises. The Reuters news agency report…

China’s Dalian Wanda group has denied reports that it is seeking to sell a minority stake in Legendary Entertainment, the production company behind “Pacific Rim” and the revived “Godzilla” and “Jurassic World” franchises. The Reuters news agency reported on Friday that the beleaguered Chinese group was exploring the possibility of selling a minority stake in […]

STX Entertainment Abandons Hong Kong IPO Plans

STX Entertainment has dropped its plans to list its shares on the Hong Kong Stock Exchange, some six months after it filed a draft prospectus. The company had sought to raise up to $500 million of new capital and achieve a market valuation of over $3 b…

STX Entertainment has dropped its plans to list its shares on the Hong Kong Stock Exchange, some six months after it filed a draft prospectus. The company had sought to raise up to $500 million of new capital and achieve a market valuation of over $3 billion. The IPO plans were shaped by shaped by sponsors […]

Reliance Industries Spends $712 Million on Cable And Broadband Acquisitions

Petroleum and retail billionaire, Mukesh Ambani is continuing his expansion into India’s entertainment sector through his Reliance Industries group. Reliance Industries is acquiring controlling stakes in leading digital cable television and broadband p…

Petroleum and retail billionaire, Mukesh Ambani is continuing his expansion into India’s entertainment sector through his Reliance Industries group. Reliance Industries is acquiring controlling stakes in leading digital cable television and broadband players Hathway Cable and Datacom, and Den Networks. Reliance is investing $400 million for a 51% stake in Hathway, and $312 million for […]

The One Championship Confirms $166 Million Capital Injection

Sports franchise operator, The One Championship has secured an additional $166 million of funding. The financial injection expands its capital base to more than $250 million. The Series D funding round was led by Sequoia Capital, a previous investor. N…

Sports franchise operator, The One Championship has secured an additional $166 million of funding. The financial injection expands its capital base to more than $250 million. The Series D funding round was led by Sequoia Capital, a previous investor. New investors include Singaporean sovereign wealth fund Temasek, alongside Greenoaks Capital, and other institutional investors. Financial […]

Is the Asian Film Market Ready for Fintech?

Japanese indie film veteran Yuko Shiomaki is trying to put a human face onto blockchain, as online film platforms boldly move from back office functionality into movie financing. A former talent agent and producer, founder of Japan’s Pictures Departmen…

Japanese indie film veteran Yuko Shiomaki is trying to put a human face onto blockchain, as online film platforms boldly move from back office functionality into movie financing. A former talent agent and producer, founder of Japan’s Pictures Department, and a Busan market regular, Shiomaki is now the Asia representative of SingularDTV. The Swiss company […]

Visual Effects Firm Vividthree Heads for Singapore IPO

Singapore-based digital effects company Vividthree Holdings is to float on the local stock exchange later this month. The IPO will raise $9.50 million (S$13 million). The firm is a subsidiary of mini-conglomerate mm2 Asia, which currently has a 49% hol…

Singapore-based digital effects company Vividthree Holdings is to float on the local stock exchange later this month. The IPO will raise $9.50 million (S$13 million). The firm is a subsidiary of mini-conglomerate mm2 Asia, which currently has a 49% holding. That position will fall to 42% and leading individual shareholders Charles Yeo and Jay Hong […]

Tencent Music IPO to be Halved (Report)

Tencent Music, being spun off from Chinese e-commerce giant Tencent, may raise less fresh capital than previously expected. Possibly only $2 billion, instead of an indicated $4 billion, according to a report. The unit is in advanced preparations for an…

Tencent Music, being spun off from Chinese e-commerce giant Tencent, may raise less fresh capital than previously expected. Possibly only $2 billion, instead of an indicated $4 billion, according to a report. The unit is in advanced preparations for an IPO in the U.S. But, according to a report by Reuters and its IFR publication, […]

‘xXx 4’ Expands H Collective and iQIYI’s Hollywood-China Funding Pact (EXCLUSIVE)

Vin Diesel’s upcoming “xXx 4” has been set as part of an expanded Hollywood-China partnership between The H Collective and Chinese streaming giant iQIYI. Under a three-film agreement, iQIYI will also invest in horror pic “The Beast,” from H Collective …

Vin Diesel’s upcoming “xXx 4” has been set as part of an expanded Hollywood-China partnership between The H Collective and Chinese streaming giant iQIYI. Under a three-film agreement, iQIYI will also invest in horror pic “The Beast,” from H Collective president of production Sherryl Clark, and a currently untitled Manga project. The two companies already […]