Baidu Inc, China's largest Internet search engine, is planning to enter the film production sector with a newly established venture — Aquamen Entertainment, according to The Hollywood Reporter.
The venture will be based in Los Angeles. The first feature from the company will be a $40 million animation feature — Kong, based on the Chinese classic novel Journey to the West but focusing on the original story of the titular character as well as involving Hollywood sci-fi elements, such as aliens and robots, the reports said.
The production also features an international collaboration as the venture will be run by South Korean filmmaker Jeong Jung Kim and Chinese producer Gary Zhang. Kong will be developed in partnership with a South Korean animation studio, while a Hollywood director will likely take the helm of the production.
Aquamen Entertainment marks Baidu's founder and Chief Executive Officer Robin Li's first foray into the film production business, after the company previously acquired iQiyi, a popular online video website.
"It's a natural move for Baidu to enter the movie production area at this moment," said Shao Gang, deputy director of consulting for the culture and entertainment industry at Horizon Research Consultancy Group in Beijing.
Meanwhile, Huang Qunfei, general manager of Beijing New Film Association Co Ltd, one of China's largest theater chains, was optimistic about the movie reception, saying that Baidu has good resources and platforms to promote its productions as well as marketing campaigns.
Read more: http://gbtimes.com/china/baidu-strides-film-industry
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