Days after Jeff Robinov announced his Studio 8 venture with Huayi Brothers and details emerged of the Disney partnership with Shanghai Media Group, longtime Adam Sandler producer Robert Simonds Jr is at the heart of the latest US-China venture.
Simonds Jr, whose credits include This Means War (pictured), has teamed up with private equity venture TPG and Shanghai-based Hony Capital to produce films in the $40m range.
The principals said they have established direct distribution agreements with the top US exhibitors and it is understood that Hony enjoys close ties with the aforementioned Shanghai Media Group.
According to reports the untitled venture reportedly will plough more than $1bn into 10 star-driven features over the next five years.
Former Viacom COO Thomas McGrath, former Crest Animation Noah Fogelson and Sophie Watts comprise Simonds’ initial senior executive team.
OddLot Entertainment founder Gigi Pritzker is among the investors and takes her place on the board alongside TPG founding partner David Bonderman, TPG Growth founder Bill McGlashan, former Universal Studios CEO Frank Biondi, former Fox Networks Group CEO Tony Vinciquerra and Shanghai Media Group director of film and television Yang Wenhong.