P. John Burke Quoted by LA Times on Chinese Pullback in Funding Hollywood Productions
Akin Gump entertainment practice head P. John Burke has been quoted by Los Angeles Times for its article “As China cools on Hollywood, the movie business looks closer to home for money.”
According to the article, 2017 has seen Chinese investment in the U.S. film and television industry drop to one tenth of its 2016 level.
Burke, whose practice focuses on media finance with an emphasis on motion picture and television transactions, said, “While Chinese money is indeed restricted and has been for the last year, it doesn’t mean the spigot has stopped. Studios have to worry about who their next partners are going to be, but it’s not like, ‘Oh my God, where do I finance my next film?’ They have capital. The question is, what’s going to be the next wave? We haven’t seen it yet.”