Headlines from China: NBA Renews Partnership with Tencent for Another Five Years

NBA Renews Partnership with Tencent for Another Five Years

On July 29, NBA and Tencent jointly announced that the two companies will renew their partnership, which will expand Tencent’s rights to exclusively live broadcast NBA games in China for another five years. While Tencent is reluctant to reveal the licensing fee, a rumor is being circulated that the company pays USD 1.5 billion for this deal, which is three times of what it paid last time. Read more on Ent Group

Fosun Pictures Names Former Le Vision Chief Zhang Zhao as New CEO

Zhang Zhao, the former chairman and CEO of Le Chuang Entertainment (or Le Vision Pictures), has been named as the VP of Fosun Group and new CEO of Fosun Pictures. A source from Fosun confirmed the news to National Business Daily on July 28. According to a June 24 statement from Le Chuang Entertainment, Zhang resigned his position at Le Chuang for “personal reasons.” Founded in 2017, Fosun Pictures is an integral branch of Fosun Group’s eco-system and is a co-investor in Ang Lee’s Gemini Man. As the major shareholder of American film company Studio 8, Fosun Group was also a backer for Ang Lee-directed, Studio 8-produced movie Billy Lynn’s Long Half Time Walk. Fosun is also a shareholder of China’s Bona Pictures, which also a co-investor in Billy Lynn. Read more on National Business Daily

Oscar-winning Documentary ‘Free Solo’ Set for September 6 China Release

It has been confirmed that American documentary film Free Solo, the winner of this year’s Academy Award for Best Documentary, had been scheduled to release in China on September 6. It’s quite rare that an Oscar-winning documentary film scores a theatrical release in China. Directed by Elizabeth Chai Vasarhelyi and Jimmy Chin, the film profiles rock climber Alex Honnold on his quest to perform a free solo climb of El Capitan in June 2017. Read more on Mtime