China's Perfect World to fund Universal movies in $250 million deal

Chinese film company Perfect World Pictures Co Ltd will invest $250 million into a slate of Universal Pictures movies, extending the tie-ups between China and Hollywood, as the world's second largest economy sees its box office soar. The Chinese firm will help fund at least 50 Universal Pictures films over a five-year period through its Perfect Universe Investment Inc investment unit, the company said in a regulatory filing on Wednesday. Universal Pictures, owned by Comcast Corp, is the studio behind blockbusters such as "Jurassic World" and "Fast and Furious", the latest instalment which is one of China's biggest-ever grossing films.

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