Chinese film company to invest $500mn in former Disney boss's studio

A private film company in eastern China has agreed to invest at least US$500 million in the studio of former Walt Disney boss Dick Cook, reported the South China Morning Post. It is the latest deal between the world’s top two markets as China’s film industry booms and producers in both countries look to increase their presence at the other’s box office. Box office revenues in China in 2015 rose about 50% from 2014 to RMB 44bn – more than double that of 2013. It is widely believed China will overtake the US as the top box office by 2020.