Wanda reaps the rewards from US film investment
By Amy He In New York | China Daily | Updated: 2015-07-29 11:19
The boxing film Southpaw, backed by a $30 million production investment from Chinese property developer Dalian Wanda Group, took in $20 million during its opening weekend at United States and international box offices.
The film starring Jake Gyllenhaal is the first investment in a US movie by Wanda, which owns the second-largest US movie theater chain, AMC Entertainment Holdings Inc, according to The Wall Street Journal.
In addition to Wanda's investment, the Weinstein Co spent $35 million marketing the film, according to the newspaper, and the two companies will split any profit.
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