Bejing-based entertainment company Huayi Brothers Media (300027.SHE) plans to buy a US$120 million-US$150 million stake in Hollywood-based Studio 8, Caijing reported, citing an announcement from the company. Studio 8 was formed by Warner Brothers’ former chief executive Jeff Robinov. “After becoming Studio 8’s shareholder, the company will be in charge of the issuing and distribution of films produced by Studio 8 in the Greater China,” the statement said. The deal is subject to regulatory approval, the company added. The deal is another step made by a Chinese company into Hollywood following Dalian Wanda’s purchase of an AMC stake two years ago.