Christopher Spicer Quoted on Chinese Investment in Hollywood
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For its article “Ties between Hollywood and Chinese film industries growing stronger,” Daily Journal quoted Akin Gump entertainment partner Christopher Spicer on Chinese investors’ interest in purchasing a “Big Six” studio, the Big Six commonly considered to be Universal, Disney, Warner Bros., Fox, Sony and Paramount.
Although 2016 opened with the $3.5 billion purchase of the Legendary Entertainment production company by Chinese movie chain giant Dalian Wanda Group Co. Ltd.—and with Wanda reportedly in talks with Paramount—Spicer noted that a studio purchase by a Chinese buyer would face more U.S. government scrutiny than did the Legendary deal.
In support of this, he noted a letter sent to the U.S. Treasury Secretary and the U.S. Trade Representative by incoming Senate Minority Leader Chuck Schumer (D-NY) in 2016, in which he asked for a closer look at Chinese investments in the United States.
Spicer also noted the friction between President-elect Donald Trump and Chinese officials as another factor.
He closed by noting, “To the extent that a Chinese company wants to finance a slate of co-production movies, that may not set off alarm bells. But if Paramount or a major studio gets put up for sale this year and a Chinese company wants to buy it, there's going to be a lot of heavy scrutiny on that company.”
