Christopher Spicer Interviewed by CCTV on Chinese Interest in U.S. Entertainment Industry
PRC state media outlet CCTV has interviewed Akin Gump entertainment and media partner Christopher Spicer on “Mega mergers and the China factor.” The interview takes as its point of departure the $3.8 billion acquisition of DreamWorks Animation, home of franchises such as Shrek and Kung Fu Panda, by cable and media giant Comcast spurred by what it characterizes as a Chinese buyer’s courtship of the studio.
On the topic of Comcast subsidiary NBCUniversal’s desire to expand its theme park business into China and worldwide, Spicer said, “Universal is expanding their theme parks in China. DreamWorks has valuable IP in Panda, How to Train Your Dragon, Shrek and Madagascar that really is hard to find.”
He also said that Chinese activity regarding U.S. properties has “exploded” in recent years, noting, “For a long time, we saw a lot of ‘tire-kicking’ from Chinese companies and Chinese intermediaries. And in the last 12-18 months, a lot of those deals have actually come together.”