BEIJING – Columbia TriStar and News Corp. added their weight to a cluster of Asian film majors backing a youth film-making initiative in China .
Signatories to the plan unveiled Friday also included Korea 's CJ Entertainment, Hong Kong 's Media Asia and Emperor Motion Pictures and state-owned Chinese giant China Film Group.
A late entrant to the party was MySpace China , whose strategy officer Wendy Deng – aka Mrs Rupert Murdoch –, was also a signatory.
Action plan revolves around a list of 40 helming talents identified by China Film and accelerating their projects into production. But the plan were hastily drawn up and interpretations appear to vary considerably between the participating companies. One said Friday announcement was little more than an agreement to agree "though the intention is absolutely there." Another said they were surprised by how close to acceptability the first draft of contract from China Film had proved to be.
"We have signed up for five yet-to-be-named projects that we will co-develop, co-produce and co-distribute with China Film," Emperor's Albert Lee said.
Budgets are expected to stay under $1 million. The notion of youth was not defined.
Unlike other young film-maker assistance initiatives in China , such as the 'Yunnan Project' technical specifications such as use of High-def or other digital material, is not a requirement of the new crop. Sony's involvement is also separate to a deal between Columbia and Hong Kong funnyman Stephen Chow's Star Overseas Group signed in May.
MySpace China , whose backers include film industry investors IDG and Accel, is expected to take an active role in promoting the slate of movies in China and overseas.
