A piece on Variety earlier this week reveals that Huahua Media out of China and Paramount Pictures are ending what was supposed to be a multi-year investment deal that would see the Chinese company contribute financing to numerous film productions. If this sounds vaguely familiar, it should. In August, Paramount execs flew to China
to smooth things over after a string of movies - most recent at the time being Transformers: The Last Knight
- failed to perform to expectations. Paramount says they'll pursue financing partnerships elsewhere - including with Hasbro - but on the whole it's probably still not good news at all. Keep reading for more details!
Paramount cited recent changes to Chinese foreign investment policies as the reason for the dissolution. In recent months, China has applied greater scrutiny to foreign investments, and has worked to limit the outflow of capital in order to bolster its currency.
Paramount Loses Slate Financing Deal With China’s Huahua
It seems that after the lackluster year of film performance Paramount has had, China has decided that this partnership no longer serves their interests. Transformers Universe: Bumblebee
is believed to be finished or nearly through principal filming by now, so this news is unlikely to make much of a difference with that already modestly-budgeted project. But there is a chance for this to have echoes felt if and when the next "main series" Transformers movie moves forward within the next couple of years.