Shanghai-based Fosun International (0656.HKG) announced on Monday it will invest an undisclosed amount in the US media company Studio 8, with plans to collaborate on the development and distribution of digital and television content, South China Morning Post reported. Beijing wants to boost its cultural influence overseas, and state-backed investment funds and other enterprises are investing heavily in entertainment. Dalian Wanda announced last year plans to invest RMB50 billion (US$8.02 billion) to build the world’s largest film and television industry project in China. The conglomerate acquired US cinema chain AMC for US$2.6 billion in 2012.
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