State-owned China Film Group has purchased an “eight-figure” equity stake in Hollywood films Seventh Son and Warcraft produced by Legendary Pictures, South China Morning Post reported, citing a Tuesday statement by China Film Group chairman La Peikang. This is the first time Chinese film companies have directly invested into Hollywood films. The investment may help to ensure the two productions are approved by Chinese state censors, which act as strict gatekeepers to the world’s second-biggest film market. The move comes ahead of a planned IPO by China Film Group.
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