Warner Brothers and China Media Capital are launching a joint venture, Flagship Entertainment Group, that will develop Chinese-language movies, Reuters reported. The Hollywood studio’s tie-up with the Chinese investment firm is the latest in a series of such deals – including Disney, Paramount and DreamWorks Animation – aiming to capitalize on China’s growing box office revenue, which is expected to hit US$8.9 billion in 2019 from a projected US$5 billion this year, according to PwC. “The subtext is all these studios are looking at how they can get better access to the China market,” said Ben Cavender, Shanghai-based principal of China Market Research Group.
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