Creative Artists Agency has partnered with China’s CMC Capital Partners, a leading investment fund in the media and entertainment, internet and mobile, and lifestyle sectors.
As part of Hollywood’s growing involvement with Chinese companies, the Century City talent agency will launch CAA China, majority owned by CAA. CMC Chairman Li Ruigang will join CAA’s board of directors, according to a joint statement.
CAA opened its China office in Beijing in 2005 and has packaged, sold, or raised financing for more than 75 Chinese-language film projects, according to the statement. CAA’s Global Film Finance & Sales Group has directed more than $400 million in Chinese capital into English-language content.
CAA President Richard Lovett was not available for comment. In a statement, the executive said: “CAA China will supercharge our efforts, from motion pictures, television endorsements, and brand consulting to sports, live events, digital media, and beyond.”
CMC Chairman Li Ruigang added: “The partnership not only creates commercial and industry value, but also serves as an innovative force in the evolution of the Chinese media industry.”
Contact media and entertainment reporter Diane Haithman at firstname.lastname@example.org. Follow her on Twitter @dhaithman for the latest in L.A. business news.