Time Warner in Talks to Produce Movies in China

Wall Street Journal: Rather than wait for China to open its doors to Hollywood, Warner Bros. is making a big play to take up residency in China. The Time Warner-owned studio is said to be in talks with China Media Capital, a state-backed investment fund focused on the entertainment industry, to form a joint venture to produce local-language films. While the deal is still to be finalized, it is understood that it will consist of numerous films annually and is the largest and most expansive of its kind. Warner Bros. is expected to be a minority shareholder in the deal.