18/04/2013 - British studio sets up joint venture with Chinese media group

Pinewood Shepperton has entered into a 50:50 joint venture agreement with Seven Stars Media, part of one of China’s leading private media groups that provides content creation and distribution, media services and events. The joint venture, called Song Lin, will initially assess several business proposals including providing co-production opportunities for film and television producers; the creation of film and television diploma courses to be delivered by UK educational institutions in Beijing, Tianjin and four other cities developing production financing and related services for Chinese film and television productions; a series of film themed entertainment venues in Shanghai and regionally; and creating film themed projects in Beijing, Shanghai and Wuhan.

British Prime Minister David Cameron said, “The creative industries are a rapidly growing area of China’s economy and will increasingly provide huge opportunities for UK companies competing in the global race.  Pinewood is leading the way, taking advantage of China’s thriving entertainment and media sector and building on Britain and China’s growing trade relationship.”

Pinewood CEO Ivan Dunleavy said, “If successful, the joint venture could provide significant opportunities for UK film and television producers.”

Seven Stars CEO Bruno Wu said, “The joint venture will aim to improve the standard of media production, create co-production opportunities for Chinese producers and export Chinese film and television content overseas. Our local knowledge and scale combined with Pinewood’s unique operational skills and international reputation will enable our joint venture to participate in China’s content explosion.”