(YorkPedia Editorial):- Los Angeles, Sep 9, 2019 (Issuewire.com) – The founder and CEO of Proxima Media, Ryan Kavanaugh has announced that his company is teaming up with National Arts Entertainment and Culture Group Ltd., a Hong-Kong based entertainment company that operates a film studio and resort destination in South China.
10 Film Deal with China
Mr. Kavanaugh is ready to set achieve new heights in China film industry. His company Proxima unveiled a joint venture with National Arts Studio, a film studio and theme park in Foshan, China, with intended plans to produce 10 commercial movies a year. Kavanaugh’s Proxima is all set to become a major shareholder of the Studio, taking over its complete management and expansion responsibilities. He is raising a fund of $250 million that will be used to create films under a joint venture.
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Ryan Kavanaugh mentioned it as the beginning of a new era, adding that it is the time to fulfill the demand to create “physical and virtual east-west content powerhouse”. He added that Hong-Kong is no longer considered to be part of foreign film quota and Chinese consumers love US films.
The agreement also describes that state-of-the-art production facilities, a four-star lodge with distinct travel experience will also be created. Mr. Ryan along with publically traded Hong Kong studio will also develop a theme park on the mainland known as ‘The World’. It will be designed as a replication of major cities around the world that can be used as film sets.
Kavanaugh will also consult on aspects refurbishing the existing studios, expanding both production and post-production facilities. The company intends eight technologically advanced soundstages.
Proxima Media will also bring its IP in the joint venture, with commercial movies to have a budget between $15 million and $80 million.
New Film Trading Platform – Proxicoin
Ryan Kavanaugh is a pioneer in slate financing for the film. He is now looking to bring film financing to Wall Street to Main Street. The producer plans to create a trading platform that allows an investor to purchase anything into the movies they love.
He created Proxicoin, a new crypto-based financing tool to fund film, TV, and other IP driven content with the investment of $100 million from Central Wealth Group of Hong Kong and Step Ventures.
Proxicon will issue security tokens on Ethereum cryptocurrency platforms as this will allow fans to directly invest in movies, TV slates once they IPO. Individuals can trade titles as they go from the big screen to streaming video and other revenue-generating platforms for content makers.
The movie executive states that the trading platform will provide dividends, which may attract hedge funds seeking alternative assets, the main focus being on attracting individuals.
Kavanaugh is quite confident that it will pass the government’s scrutiny under Regulation A of the Jobs Act, allowing everybody to invest in private companies.
About Ryan Kavanaugh
An enduring film producer of Hollywood and beyond, Ryan Kavanaugh has remarkable titles in his bag such as Immortals, Limitless, Mirror Mirror, and The Fighter. His films have received 60 Oscar nominations and 8 wins. He introduced more than $10 billion in capital to the film fraternity, by creating funding structure for Warner Bros., Sony, and Universal. Ryan is the brains behind the formation of Marvel Studios under the agreement of converting Marvel a licensed company to a full-fledged production house. He is the CEO of Proxima Media, a film production company. Ryan Kavanaugh is one of the highest-grossing producers in Hollywood who have produced and financed 200 films.
This Press Release was originally published by IssueWire. Read the original article here.