The Creative Artists Agency entertainment and sports agency has announced a partnership with the Chinese venture capital firm CMC Capital Partners that includes the formation of CAA China.
The partnership includes CMC Capital Partners making a minority strategic investment in Century City-based CAA and CMC Chairman Li Ruigang joining CAA’s Board of Directors.
CAA opened its China office in 2005, represents many of the top actors, directors, writers and producers from China, Taiwan and Hong Kong and has packaged, sold, or raised financing for more than 75 Chinese-language film projects, CAA President Richard Lovett said.
“For more than a decade, we have served as a vital bridge to and within the Chinese market, utilizing our deep experience and network to support the work of the region’s best artists and to develop opportunities within the market for international talent,” Lovett said.
“CAA China will supercharge our efforts, from motion pictures, television, endorsements, and brand consulting to sports, live events, digital media, and beyond. CMC has a remarkable record of success in the region, and we are confident that our partnership will yield tremendous results for our clients and future business partners in China.”
CMC is a leading investor in China’s media and entertainment, internet and mobile, and lifestyle sectors. It has created and supported the growth of an array of companies, including those involved in film, television, animation, children’s content, sports, music, fashion and digital media.
“The partnership not only creates commercial and industry value, but also serves as an innovative force in the evolution of the Chinese media industry,” said Li, who called China and the U.S. the two biggest entertainment markets.
“We are immensely excited about the potential possibilities of an enhanced China angle by CMC coupled with the experience and resources of CAA.”
—City News Service
>> Want to read more stories like this? Get our Free Daily Newsletters Here!