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Chinese business platform Financing City Network (FCN) announced on Saturday a strategic cooperation deal with SP International Pictures (SPIP) to make 10 Hollywood movies in the next five years, with a total budget of $300 million.
SPIP is a Hollywood film production and distribution group founded by Steven Paul, who has produced and distributed 71 films, including Wolves, Ghost Rider, Tekken and Baby Geniuses.
The agreement, which also includes East & West Culture Media Co., aims to jointly build a new Sino-U.S. film capital platform.
FCN has existing agreements with the Beijing Film Academy, China News Documentary Film Group and Beijing TV NEO Media Investment.
Among those attending a signing event in Cannes on Saturday were Victor Dong, chairman of FCN consulting committee, Alex Cheng, vice chairman of FCN consulting committee and president of Jingcheng Film, Kollins Ke, vice president of FCN, and Sky Liang, president of EastWest.
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