Hollywood companies form innovative distribution business
Hollywood-based Relativity Media announced Monday it has joined Huaxia Film, SAIF Partners and IDG China Media to become what is billed as the first China/U.S. distribution company, SkyLand Entertainment.
Looking to find a platform for all their future China film endeavors, Relativity, which has produced or financed such recent films as Limitless, The Fighter and The Social Network, made the agreement aiming to develop, produce, acquire and distribute Chinese material with worldwide appeal.
Their new partners in this strategic alliance to promote U.S.-Chinese co-productions are among China’s leading production, finance and distribution of Chinese content films in the past few years. SAIF Partners is an Asian private equity firm and IDG China Media, is the China-focused investment arm of Boston’s International Data Group.
While its titles will still be subject to China’s annual quota of 20 foreign films distributed on a revenue sharing basis, Relativity will now distribute all its future films in China including Haywire, Immortals, Act of Valor, an untitled Snow White project and The Raven through the new venture SkyLand.
SkyLand has functioned as SAIF and IDG’s entertainment arm, and most recently co-produced Snow Flower and the Secret Fan, inspired by a novel by Lisa See.