Paramount to Co-Produce 'Transformers 4' With Chinese Partners
Paramount, China Movie Channel and Jiaflix Enterprises will co-produce the fourth installment of the "Transformers" movie franchise.
This agreement represents the first time that China Movie Channel will work with a western studio in the production of a major motion picture.
Paramount vice chair Rob Moore said, "We are excited by and grateful for the opportunity to work with China Movie Channel and Jiaflix Enterprises on the production and promotion of 'Transformers 4. We see this relationship as a reflection of the global power and appeal of both this unique franchise and Michael Bay's talents as a filmmaker."
Under the agreement, Paramount and its Chinese production partners under the State Administration of Radio, Film and Television (SARFT) will participate broadly in the production of the movie, including casting of Chinese actors, location scouting in China, promotion and possible post-production in the count.
The agreement follows a very successful release for "Transformers 3: Dark of the Moon" in China, grossing $165 million in that country of its worldwide gross of $1.1 billion.
"I'm proud and honored by how 'Transformers' has been embraced by Chinese audiences," said the film's director, Michael Bay. "I look forward to working with China Movie Channel and Jiaflix Enterprises to help reach more people here and deepen their passion for this ongoing story and its characters."
China Movie Channel is the country's only national movie channel and the largest broadcaster in china, reaching one billion people. It is a top investor in Chinese film production, with more than 100 projects a year.
Jiaflix Enterprises, a China Movie Channel partner, is a top foreign and Chinese domestic movie distributor.
"This is the beginning of a new era of collaboration with the Hollywood studios," China Movie Channel chairman Yan Xiaoming said. "We are very confident that the China Movie Channel/Jiaflix cooperation with Paramount will result in the famous Transformers brand being an even bigger success."
"Transformers 4" is slated for a June 27, 2014 release.