Hollywood
Sony & CFC partner for Chinese remake of ‘My Best Friend’s Wedding’
MUMBAI: Sony Pictures and China Film Co. (CFC) have joined hands to co-produce the Chinese remake of My Best Friend’s Wedding.
The film, slated for release in China on Valentine’s Day 2016, features Shu Qi, Feng Shaofen, Song Qian aka Chinese singer and actress Victoria Song and Ye Qing.
Sony’s original film, which released in 1997, starred Julia Roberts, Cameron Diaz, Dermot Mulroney and Rupert Everett.
Shooting will begin in late July this year in London, Italy and Beijing.
Alexi Tan will direct and produce the Chinese remake his company, Play Productions.
In the film, Journalists Gu Jia and Lin Ran have grown up together as best friends. One day, Lin Ran calls Gu Jia from the UK telling her that he is getting married to someone he only just met, a wealthy Chinese girl who has been studying in the UK, and asks Gu Jia to be his “best man.” Gu Jia finally realizes that she loves him, not just as a friend, and sets out for London a few days before the wedding determined to win him back.
Hong Jiu, Fu Linran and Alexi Tan wrote the script. Jiu has published several popular online novels including We Live Together.
“We are delighted to be collaborating with Columbia Pictures on this exciting remake of what has become an international comedy classic,” said China Film Co., Ltd executive Ling Hong.
Sony Pictures China head of production and strategic development Dede Nickerson added, “We are thrilled to be working with our partner China Film, Alexi and this incredible cast to create what is sure to be a hilarious and touching film for the Chinese audience.”
Columbia Pictures is also currently in post-production on director Chen Kaige’s dark comedy Monk Comes Down the Mountain starring Wang Baoqiang, Aaron Kwok, Chang Chen, Chiling Lin, VanNess Wu and Fan Wei, based on the novel of the same name by Xu Haofeng. The film is currently in post-production and scheduled for release on 3 July, 2015.
Sony has previously co-produced Kung Fu Hustle (2004) and Ang Lee’s Crouching Tiger, Hidden Dragon (2000).
Hollywood
Paramount seeks FCC nod for foreign-backed $110 billion WBD deal
Gulf funds back merger as foreign stake nears 50 per cent, control stays with Ellison
NEW YORK: Paramount Global has approached the Federal Communications Commission seeking approval for foreign investments tied to its proposed $110 billion acquisition of Warner Bros. Discovery, marking another key step in one of the biggest media deals in recent years.
According to regulatory filings made public this week, the investment backing the deal includes major Gulf sovereign funds such as the Public Investment Fund, the Qatar Investment Authority and L’imad Holding Company. Together, foreign investors are expected to hold just under 50 per cent of Paramount’s equity once the transaction is complete.
Despite the sizeable international backing, Paramount has made it clear that voting control will remain with the family of chief executive David Ellison, ensuring the company stays firmly under US control as required by broadcasting rules.
A company spokesperson described the FCC filing as routine for transactions involving foreign capital and stressed that it does not impact the closing of the deal. Under US law, any significant foreign ownership in broadcast licence holders must undergo regulatory review.
The merger itself has already cleared a major hurdle, with Warner Bros. Discovery shareholders approving the deal on 23 April. The transaction values the company at $31 per share, a 147 per cent premium to its earlier trading price, reflecting strong strategic intent behind the tie-up.
If completed, the combined entity will bring together a vast portfolio including Warner Bros. film studios, HBO Max, and networks such as CNN, TNT and Discovery Channel. The deal is currently expected to close in the third quarter of 2026.
However, scrutiny is intensifying. The US Department of Justice has issued subpoenas seeking details on the merger’s potential impact on cinema competition, streaming services and content licensing. Reviews are also anticipated in international markets, including the United Kingdom.
There is also a financial safety net built into the agreement. If regulators ultimately block the deal, Paramount would face a $7 billion break-up fee. Additionally, the company has taken on $2.8 billion in obligations previously owed by Warner Bros. Discovery to Netflix following an earlier terminated arrangement.
Paramount maintains that easing foreign ownership barriers will unlock fresh capital and strengthen its ability to compete in a rapidly evolving media landscape. For now, the spotlight remains on regulators, whose decision will determine whether this global media consolidation moves from script to screen.
