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Warner`s first cinema in China operational in Shanghai
Beijing, July 13: US-based Warner Brothers has set up China`s first film screening company in Shanghai in joint venture with a local firm.
Beijing, July 13: US-based Warner Brothers has set up China's first film screening company in Shanghai in joint venture with a local firm.
Shanghai Paradise Warner Cinema City Co, described by insiders as the beginning of Warner's investment in the Chinese film sector, has a total investment of 3.4 million US dollars has nine halls with 1,398 seats in downtown Shanghai.
Warner's joint venture partner, Shanghai Paradise Co, which owns 51 per cent of the shares, controls 57 cinemas and 126 screens in the country, and about 75 per cent of the total in shanghai. Its box office accounts for 80 per cent of the total in the city. Shanghai Film Group Corp, the biggest film company in Shanghai, has a controlling share in Shanghai Paradise Co.
Zhu Yongde, board chaiman of the company, said they are negotiating with Warner on a package of cooperation.
Ellen R Eliasoph, in charge of Warner's business in China, said the company is opening up film distribution channels, producing films, apart from investing in screening outlets in China. Bureau Report
Warner's joint venture partner, Shanghai Paradise Co, which owns 51 per cent of the shares, controls 57 cinemas and 126 screens in the country, and about 75 per cent of the total in shanghai. Its box office accounts for 80 per cent of the total in the city. Shanghai Film Group Corp, the biggest film company in Shanghai, has a controlling share in Shanghai Paradise Co.
Zhu Yongde, board chaiman of the company, said they are negotiating with Warner on a package of cooperation.
Ellen R Eliasoph, in charge of Warner's business in China, said the company is opening up film distribution channels, producing films, apart from investing in screening outlets in China. Bureau Report