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The Motion Picture Academy doesn’t work that way – China’s latest business and technology news

summary of the top news in Chinese business and technology for October 4, 2017. Part of the daily SupChina newsletter, a convenient package of China’s business, political, and cultural news delivered to your inbox for free. Subscribe here.
2 weeks ago
Lucas Niewenhuis

The Wall Street Journal has a story (paywall) on how Wang Jianlin 王健林, the once-richest man of China, dreamed of funding an Oscar-winning Hollywood movie, but that dream — along with almost all of Wang’s ambitions in Hollywood — died in China’s crackdown on outbound investment in recent months.

The Journal says that Wang’s company, Dalian Wanda, pursued two movies: 2015’s boxing drama Southpaw, and a legal drama called Arc of Justice, whose production stalled when Wang withdrew his planned funding of $12.5 million.

The failure of Southpaw to achieve any Academy Awards, despite favorable reviews, must have been hard on Wang — especially given his $30 million investment in the film. Sources familiar with that deal told the Journal, “Wanda wanted a guarantee that ‘Southpaw’ would receive an Oscar nomination or else the company would receive a payout,” adding, “Wanda was told the Motion Picture Academy doesn’t work that way.” 

By Lucas Niewenhuis
Lucas Niewenhuis is an associate editor at SupChina who helps curate daily news and produce the company's newsletter, app, and website content. Previously, Lucas researched China-Africa relations at the Social Science Research Council and interned at the Council on Foreign Relations in New York. He has studied Chinese language and culture in Shanghai and Beijing, and is a graduate of the University of Michigan.
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