Warner Bros plans China film venture

Shanghai

US entertainment giant Warner Bros plans a venture with China Media Capital (CMC) to develop films for distribution in China and globally, according to a statement on Sunday, as Hollywood seeks a greater share of the massive market.

The new venture - Flagship Entertainment Group - will develop, fund, acquire and produce a wide range of films for distribution in China and around the world, the two sides said in a statement. The first movies under the new imprint may emerge as early as next year.