Two local entertainment companies have received big cash injections to finance future projects.

Burbank-based Dick Cook Studios, helmed by former Disney Studios chairman Dick Cook, has announced a pact with China’s Film Carnival which will see the Chinese firm fully financing a $500 million fund to develop, produce and distribute all of the company’s films. The first release under the deal will be fantasy drama “Ranger’s Apprentice,” from “Crash” writer and director Paul Haggis.

Meanwhile Skydance Media, which was most recently behind “Mission Impossible: Rogue Nation,” has raised $700 million to fund its television, feature film and interactive businesses. The company, on the Paramount Pictures lot in Hollywood, received a $500 million line of credit, arranged by JPMorgan Chase, and $200 million in equity from a consortium of shareholders.

Skydance was founded in 2010 by David Ellison, son of Oracle Corp. chairman Larry Ellison and brother of Annapurna Pictures founder Megan Ellison.