New director hopes to restore Shaw Brothers to its former glory

By   |  Oct 31, 2016

After taking up a directorial position at Shaw Brothers Holdings, Chinese media mogul Li Ruigang has announced a comprehensive new strategy designed to restore the iconic film company to its former glory.

Li, who is also the vice-chairman of the city’s dominant broadcaster TVB, revealed that he hopes to add more value to Shaw Brothers by using the label to make films adapted from popular TVB dramas. In addition, Shaw Brothers would also have access to his extensive Hollywood resources for possible cooperation, he said.

“We expect to invest 1 billion yuan for making films during the next one year and have about eight new movies in the pipeline,”said Jiang Wei, executive director of Shaw Brothers and senior executive of CMC-owned film distributor Gravity Pictures.

“In the next three to five years, we will make Shaw Brothers a ‘first class’ industry player,” Li said.

Shaw Brothers was founded by Sir Run Run Shaw back in 1958, and was the region’s top studio for decades. It is now 30 per cent owned by Li’s multibillion dollar media arm CMC Holding, with TVB being the second largest shareholder.

Source: South China Morning Post

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