P. John Burke Quoted in Los Angeles Times on Chinese Attempts to Boost Local Film Industry
Los Angeles Times has quoted Akin Gump’s P. John Burke, head of the firm’s entertainment practice, in the article “Wang Jianlin beckons Hollywood filmmakers to massive China moviemaking complex,” which discusses efforts by the chairman of Dalian Wanda Group to lure major film and television productions to his home country.
Wang has offered a 40 percent production rebate for movies and television shows that shoot at his new “movie metropolis.” According to the article, that would be among the most generous offers to filmmakers and studios looking to lower costs abroad.
The incentive should prove attractive to studios aiming to reduce the financial risk of their would-be blockbuster films, said Burke. “On its face, 40 percent is a very high percentage and it’s going to attract a lot of people to come look at it.”
Burke added, however, “At the end of the day, it’s not just about money. The directors need to be sure they’re going to be able to shoot something they’re proud of.”