China does not own Warner Bros. outright. However, there is a joint venture between Warner Bros. and China Media Capital (CMC) called Flagship Entertainment Group. Warner Bros. is a major American film production and distribution company, while CMC is a Chinese media and entertainment conglomerate. Together, they formed Flagship Entertainment Group in 2015.
Flagship Entertainment Group is based in Hong Kong and operates as a film production company. It aims to produce and distribute high-quality Chinese-language films for both domestic and international audiences. This joint venture allows Warner Bros. to tap into the rapidly growing Chinese film market and collaborate with Chinese filmmakers.
In terms of ownership, Warner Bros. Discovery holds a 49% stake in Flagship Entertainment Group, making it the largest shareholder. China Media Capital holds a 41% stake, while TVB, a Hong Kong television network, holds the remaining 10%. This ownership structure reflects the partnership between the American and Chinese companies.
It’s important to note that while China Media Capital is involved in the joint venture, it does not mean that China as a country owns Warner Bros. In fact, Warner Bros. is a subsidiary of Warner Bros. Discovery, a global entertainment company formed through the merger of WarnerMedia and Discovery Inc. The joint venture with China Media Capital is just one aspect of Warner Bros.’s business strategy to expand its presence in the Chinese film market.
The collaboration between Warner Bros. and China Media Capital through Flagship Entertainment Group has seen the production of several notable films, including the Chinese-language blockbuster “The Meg” in 2018. This partnership allows for the combination of Hollywood expertise and resources with local Chinese talent and market knowledge.
China does not own Warner Bros., but there is a joint venture between Warner Bros. and China Media Capital called Flagship Entertainment Group. This partnership aims to produce Chinese-language films for both domestic and international audiences, leveraging the strengths of both companies.