Headlines from China: Wanda Officially Announces Exclusion of Legendary Entertainment in Restructuring

Wanda Officially Announces Exclusion of Legendary Entertainment in Restructuring

After having suspended its stocks for half a year, Wanda Film Holdings has officially announced that U.S. movie studio Legendary Entertainment will not be part of the reorganization that has been in progress in July last year. Legendary Entertainment was acquired for $3.5 billion in 2016 but has been making losses since. Wanda Film has also revealed plans to include TV and gaming subsidiaries as part of its restructuring, and the value of equity after the restructuring is estimated to be $2.5 billion (16.2 billion yuan), less than half of its original valuation. It is still unclear when the company will return to active trading. Read more on D-entertainment

Hugh Jackman’s ‘The Greatest Showman’ to Release in China Feb 1

Directed by Michael Gracey, and starring Hugh Jackman and Zac Efron, musical film The Greatest Showman is set to release in China on February 1st, 2018. The film received three nominations, including Best Motion Picture – Musical or Comedy, Best Actor – Musical or Comedy (Jackman), and won Best Original Song (“This Is Me”) at the 75th Golden Globe Awards. Apart from 20th Century Fox, China’s Bona Film Group has also invested in the production. Read more on Mtime

‘Star Wars: ‘The Last Jedi’ Performs Poorly at the China Box Office

Grossing an estimated $28.5 million over a three-day weekend in China, the box office for the latest Star Wars movie The Last Jedi came in much lower compared to previous installments including Rogue One and The Force Awakens, even though the Star Wars series has never been as well-accepted in China as other countries. Stats show that Chinese comedy film The Ex-File: The Return was able to attract much more young viewers under the age of 29 than The Last Jedi, who contribute to the majority of ticket sales. Additionally, reviews and ratings of The Last Jedi have also fared worse than usual, further impacting its box office. Read more on D-entertainment

Chinese Film ‘Impermanence’’ Selected for International Film Festival Rotterdam

International Film Festival Rotterdam has announced its selection for the Bright Future Award 2018; young Chinese filmmaker Zeng Zeng’s Impermanence is among the eight selected titles, and the only mainland Chinese production to be included. Titled “Yun Shui” (cloud water) in Chinese, this is Zeng’s first full-length film that tells the story of three fascinating lost souls. The film is co-produced by actress Qin Hailu and director Ning Hao. Read more on Mtime