MUMBAI: Moving quickly to take advantage of a new Chinese law that allows such co-ventures, Sony Corp's television unit announced today it has set up a joint venture with a division of China Film Group (CFG) to make Chinese language TV shows.
Sony Pictures Television International (SPTI) and CFG's Hua Long Film Digital Production Co, have formed the first US-Sino television and film co-production joint venture approved by the People's Republic of China's (PRC's) national government, including regulatory bodies the State Administration of Radio, Film & Television (SARFT) and the Ministry of Commerce (MOFCOM), a statement issued today by SPTI says. The JV, Huaso Film/Television Digital Production Company Limited, will be known as "Huaso," an acronym combining "Hua Long" with "Sony." CFG holds majority stake in the JV.
The announcement was jointly made by Michael Grindon, president, SPTI, and Yang Buting, chairman, CFG.
Huaso has opened offices in Beijing and will be run by a board of directors, with Dandan Zhang recently appointed as general manager to oversee day-to-day operations. Huaso currently has a number of Chinese-language projects in development, including light entertainment and sitcom properties, drama series and TV movies, for distribution within and outside the PRC.
The JV is part of SPTI's larger commitment to increase production capabilities in Asia and adds to that already existing in India, Japan, Indonesia, Thailand and Taiwan.