The Recorder Quotes P. John Burke on China’s Hollywood Intentions Amid Growing Political Uncertainty
P. John Burke, partner and head of Akin Gump’s entertainment practice was quoted by The Recorder in the article “Hollywood Deal Lawyers Wrestle With Great Squall of China.” The article reports that the possibility of a trade war between Washington and Beijing as well as other uncertainties have led to a virtual halt in deal-making by Chinese companies looking to invest in U.S. film, TV and media interests.
According to the article, the Committee on Foreign Investment in the United States (CFIUS) has been under pressure to take a harder look at China’s Hollywood intentions. Since President Trump took office, Burke said most attorneys are playing it safe and recommending that their clients undergo the review. “What’s happened in the legal community is that attorneys are talking to CFIUS experts and realizing that even with situations that don’t on the surface seem to require it, it’s the safe play and you almost have to do it,” he said.