Legendary Entertainment sets up Hong Kong studio

Legendary Entertainment Productions, creator of global box office hits, such as Inception and The Dark Knight, has set up a new unit that will co-produce movies with China's leading studio Huayi Brothers Media Corp.

Starting in 2013, Legendary's newly founded Hong Kong-based subsidiary Legendary East plans to make one or two major films targeting a global audience every year, according to Legendary chairman and CEO Thomas Tull and Huayi president Wang Zhonglei.

Warner Brothers Pictures will distribute the films worldwide, while Beijing-based and Shenzhen-listed Huayi will distribute them in China, the fastest-growing box office market in the world.