Sony Pictures Entertainment (SPE) has signed a deal with Jeff Robinov’s Studio 8 to release up to six films a year worldwide excluding Greater China.
Studio 8 is the multi-platform media company founded by Chinese investment group Fosun Group. As part of the agreement SPE will become an investor in Studio 8.
The new venture has green-light authority and will develop, produce and acquire potential tentpoles and prestige pictures by new and established filmmakers.
Under the leadership of founder and CEO Robinov, Studio 8 will be based in Culver City. Robinov will also work with Fosun Group to develop TV and digital content.
Studio 8 will also explore the acquisition of other related businesses in the media space and to that effect expects to raise up to $1bn in financing.
“Mr Jeff Robinov and Studio 8 are one of the best and most experienced teams in Hollywood,” said Guo Guangchang, chairman of Fosun Group. “Our partnership will combine the resources of China and Hollywood to build an open global platform not only focusing on movie and entertainment investments, but also eventually aiming to integrate our resources around the world.”
“Michael Lynton and I have been looking forward to working with Jeff for a long time,” said Amy Pascal, SPE co-chairman and chairman of Sony Pictures Entertainment Motion Picture Group. “We are thrilled to be in business with Studio 8 and to be distributing their films.”
“I’m very grateful to have Fosun Group and Sony Pictures Entertainment as integral parts of this venture,” added Robinov. “Their support, experience and accomplishments will help us build a great global media company together.”
Prior to Studio 8 Robinov served at Warner Bros motion pictures group for 17 years, most recently as president of Warner Bros Motion Pictures Group.