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Wong Kar-wai, Chinese cinema’s best known auteur, will make a foray into Web content with a new ser...

Wong Kar-wai Makes Web Series Foray With Huanxi Media Backing

By 19:02:00

Wong Kar-wai, Chinese cinema’s best known auteur, will make a foray into Web content with a new series that he will produce and partly direct.

The series, which currently has no English-language title, will be made as part of a new agreement between Wong and Huanxi Media, the budding media conglomerate headed by producer and businessman Dong Ping. Huanxi said that the series would include two seasons, with a total of 18 episodes.

Huanxi will put up US$3.1 – $3.85 million (RMB20-25 million) per episode of the series through a development fund. Some $15.4 million (RMB100 million) is payable on signing the deal.

The series will be made under Wong’s Master China Films company. Master China is the new production entity for Chinese-language content and original programming under Wong’s  20-year old Jet Tone Films.

In a separate deal, Huanxi will also back a number of films made by another Hong Kong leading light Peter Chan Ho-sun.
Huanxi will issue shares representing 4.15% of it enlarged equity to Master China and 5.9% of its enlarged equity to Chan. Both film makers will join Huanxi’s artistic advisory committee.

The deal with Master China gives Huanxi exclusive global Internet rights to Wong’s productions for a ten year period and sees Wong grant Huanxi priority investment positions in his other works. Master China is indirectly controlled by Wong. Its connection with Wong’s 20-year old Jet Tone Films is unclear.

The deal with Chan gives Huanxi the right to invest up to 60% in at least two of Chan’s upcoming productions, and puts it in priority position to buy the Internet rights. Huanxi will put up US$12.9 million (HK$100 million) for a Chan development fund.

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