Growing Los Angeles-based entertainment company Tang Media Partners has acquired Luke Ryan's content developer Chaotic Good Studios for an undisclosed sum.
The announcement was made Wednesday by TMP chairman and CEO, Donald Tang. Ryan has been appointed to the newly created position of chief creative officer at Tang Media Partners and will stay on as Chaotic Good's CEO.
Chaotic Good is best known for its proprietary Fanalytics service, which provides data to film, TV and gaming studios about audience engagement and behavior.
"It's a powerhouse partnership," says one attorney of Tang Media Partners' majority ownership of the foreign sales and film finance company, which will include joint ventures with Chinese media giant Tencent.
On June 2, Tang Media Partners revealed it had acquired majority ownership of IM Global, the Los Angeles film financing, production and foreign sales outfit led by former Miramax exec Stuart Ford.
The deal marks the first time an entity with such deep ties to the Chinese industry has come to control a major foreign sales and film finance company.
Bullish international investors have long ignored screenwriter William Goldman’s warning that “Nobody knows anything” about success in Hollywood.
Over the past 25 years, investors from Japan, France and later India have arrived in the entertainment industry capital in waves, convinced that their cash and know-how could unlock untapped Tinsel Town riches.
Now it's China's turn, with its companies involves in a flurry of recent Hollywood deals.
A young Chinese-US company backed by internet group Tencent and two mainland media firms is to buy control of IM Global, a Hollywood film and TV studio.
Tang Media Partners, created by Donald Tang, a businessman, has joined CMC and Huayi Brothers to buy the studio from the Reliance group of Anil Ambani, the Indian businessman.
Mr Tang, a former head of Bear Stearns in Asia, is also partnering with IM Global and Tencent to form a TV Joint Venture that will include Reliance and produce and distribute television content.
Donald Tang's Tang Media Partners has acquired a majority ownership of IM Global, the international sales and production finance business headed by Stuart Ford.
TMP will also back a move to establish a new television production joint venture with China's Tencent, IM Global and Reliance Entertainment, the India-based media investor that was IM Global's majority owner prior to the Tang acquisition.
Deal terms were not announced, but sources point to the deal valuing IM Global at some $200 million. Reliance invested in IM Global in 2010 and previously controlled some 70% of the company. Following the new capital injection, Ford and Reliance are understood to retain significant minority interests of roughly equal size.
U.S.-Chinese company Tang Media Partners has acquired a controlling stake in foreign sales, financing and production company IM Global.
TMP is acquiring the stake from India's Reliance Group, which bought into IM Global in 2010. The size of the share wasn't disclosed.
Stuart Ford, who established IM Global in 2007, will retain his role as CEO. TMP founding partner, Donald Tang, is now the executive chairman of the IM Global board.
In a parallel transaction IM Global and TMP have partnered with Chinese tech giant Tencent on a new television production joint venture that will operate under the recently launched IM Global Television banner and includes a dedicated television production investment fund.
Collaboration between the Chinese and American film industries will continue to increase, but a gap still needs to be closed before Chinese stories and intellectual property win over audiences in America and the West, executives and financiers said during a conference in Beverly Hills on Saturday.
Jim Gianopulos, chairman and CEO of 20th Century Fox, said during the C-100 Conference, that America’s multi-cultural roots have spawned films that appeal to audiences from varied backgrounds. Without that tradition, it’s more difficult for the Chinese to create films that appeal globally, said Gianopulos.
The entertainment industry is getting ready for more deals in the explosive Chinese market.
That was the bottom line Monday from the U.S.-China Film and TV Industry Expo at the Los Angeles Convention Center as a variety of execs cited an increased familiarity with how the two countries operate.
“There’s a willingness on both sides to engage in a meaningful way,” Lionsgate’s chief operating officer Brian Goldsmith said during an Art of Dealmaking panel. “There’s that intangible feeling that you can do more business.”
A lot of Chinese money has already found its way into California. In the past year Chinese investors have put billions into Silicon Valley companies including Uber, Airbnb and LinkedIn.
Last week Relativity Media, a Hollywood film studio, filed for bankruptcy protection. But even before its fall from grace, Chinese companies including Alibaba Pictures, Baidu, Dailan Wanda, Tencent, and Huayi Brothers Media Corp had been eyeing the business closely.
STX Entertainment has just established itself as a force to be reckoned with. The company today officially sealed a deal with China's largest privately held film firm, Huayi Brothers Media Corp, in a three-year pact that begins in 2016 for 12-15 projects per year. Deadline understands the deal is to be structured as a revolving line of credit estimated at upwards of $1 billion for films to be co-produced and distributed with Huayi. There are a number of titles that have already been approved, but have yet to be announced. Although the relationship between the parties begins immediately, STX will not see its slate ramp up until next year.
Simonds tells TheWrap: "We are throwing a lot of capital around, but we believe in it"
STX Entertainment Chairman Robert Simonds announced on Wednesday that he had partnered with China's Huayi Brothers to finance and produce an expanded slate of movies - up to 15 feature films a year - further boosting the firepower behind his year-old STX Entertainment.