Both companies have been actively making deals in recent months.
Creative Artists Agency (CAA) and Bona Film Group will kick off a US$150 million film production fund with an investment in blockbuster director Roland Emmerich’s upcoming Midway, the two companies announced Friday.
The fund will “focus on financing English-language films for the global marketplace, Chinese co-productions, and Chinese-language films for the local market,” the companies said. Bona will handle China distribution of films produced under the deal; CAA will handle sales for North American and international distribution.
Just over a month ago, CAA, the world’s largest artist management agency, sold a minority stake to CMC Capital Partners, a Shanghai-based investment group, to expand its footprint in China.
Last week, Bona, which was formerly listed on Nasdaq before going private in 2015, sold a 1.9 percent stake to Wanda Cinema Line. As part of the deal, new Bona cinemas, including 30 IMAX films contracted with the Canadian large-format film company, will join Wanda Cinema Line.
Bona announced earlier this week it would invest $80 million in Midway, The Hollywood Reporter reported. That investment is now part of the film fund announced Friday.