SMG, Warner Bros to launch content investment fund

SHANGHAI -- Shanghai Media Group (SMG) and CMC Capital announced Tuesday plans to team up with overseas partners Warner Bros Entertainment, RatPac Entertainment and WPP as they launch a global content investment fund.

The CMC Creative Fund will invest in Chinese and international content covering film, TV, and live entertainment, the five partners said in a joint statement.

Warner Bros., RatPac and WPP will work with SMG and CMC to share their production and distribution expertise with up-and-coming players in the Chinese entertainment industry through seminars, co-productions and creative partnerships.

"We believe China is a market with incredible potential and a wealth of talent," said Kevin Tsujihara, Chairman and CEO of Warner Bros.

"We are excited to be working with our partners at Shanghai Media Group and CMC Capital to continue our history of helping to develop and grow the entertainment industry in China," said Tsujihara.

CMC Chairman Li Ruigang said he hoped the new platform will take advantage of the respective strengths and market potential of the partners. He said he hoped they could provide superior resources and full-scale support for the new generation of content creators in China.

CMC is China's leading media and entertainment investment fund. Its prominent partners include China Development Bank, one of China's largest financial institutions.

Wang Jianjun, Executive Vice President of SMG, said they are keen on participating in the international content market through this strategic partnership.

SMG is dedicated to becoming China's most innovative media and entertainment conglomerate with global influence and places great emphasis on content creation, said Wang.

"I hope to best exploit my experience, techniques and connections in the industry to help China's creative talents, especially the younger generation, to create Chinese projects that will be successful in the global markets," said Brett Ratner, co-founder and CEO of RatPac Entertainment.

Brett Ratner is a world class producer and director in Hollywood, best known for the TV series "Prison Break" and films such as the "Rush Hour" series, "X-Men: The Last Stand", and the recent "Hercules" that will be released in China on Oct 21.

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