National Arts signs film production deal with Promixa Media

Wednesday, May 15, 2019

National Arts Entertainment and Culture (8228), owned by celebrity Sin Kwok-lam, signed a long-form agreement with Hollywood film producer Proxima Media, where Proxima's founder Ryan Kavanaugh will be a strategic shareholder.

Ryan Kavanaugh set up Marvel Studios and created the Marvel Cinematic Universe, and has also cooperated with Warner Bros., Universal Pictures and Sony Pictures.

National Arts will issue new shares to Proxima Media, and Proxima Media will fund up to US$100 million (HK$780 million) for improving the group to a world-class film production studio.

Proxima Media will shoot up to five films and three dramas each year at the National Arts studio.