Viacom Studio Nabs $1 Billion from Chinese Film Outfits

Reuters: Viacom’s Paramount Pictures will receive a $1 billion cash investment from two Chinese film companies, Shanghai Film Group and Huahua Media, giving the U.S. studio needed cash and stability as it attempts to grow. Shanghai Film Group and Huahua Media will finance a combined 25 percent of all Paramount’s films for the next three years.