US entertainment giant Warner Brothers announced a joint venture with state-owned Shenzhen International Trust Investment Corp to open five new cinemas in Shenzhen, Nanchang, Changsha, Zhengzhou and Chongqing, state media reported. Warner will hold 51% stake in the cinemas, Shenzhen International Trust 49%. According to Xinhua, Warner Brothers has to date invested a total of RMB140m (US$16.8m) in six cinema joint-ventures. Last year it signed with Guangzhou Jinyi Film and TV Investment Company to open 10 multiplex cinemas.
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