August 15, 2013 |
UltraStar Cinemas of San Diego County has formed a joint venture to build more than 40 theaters in China, capitalizing on that country's growing appetite for movies. UltraStar said in a statement Thursday it had formed a joint venture with Letian Entertainment, a subsidiary of China's second-largest broadcast network, to develop and operate theaters throughout China, which is in the midst of a multiplex-building boom. The companies are expected to complete construction of three theaters by the end of 2013, with plans to build an additional 40 cinemas by the end of 2016.
July 22, 2013 |
Los Angeles commercial property landlord Thomas Properties Group Inc. has struck an agreement with its longtime investment partner that would allow Thomas to take full ownership of mammoth City National Plaza in downtown Los Angeles and other properties. “We want to increase the number of properties we wholly own or control,” Chief Executive James A. Thomas said. “This is a transformative opportunity for us.” Thomas Properties formed a joint venture with the California State Teachers' Retirement System in 2003 to acquire and upgrade the former Arco Plaza in downtown Los Angeles.
April 30, 2013 |
It's time for South Korea to face facts: The Kaesong experiment has failed. The ideologically motivated joint business venture with North Korea known as the Kaesong industrial complex is not economically viable, nor has it achieved any of its political objectives. To protest recent sanctions against it, the North pulled its workers out this month and locked out workers from the South. Seoul tried to engage North Korea to resolve the dispute, coupled with an uncharacteristic deadline and a warning of "grave consequences.
December 6, 2012 |
Imagine a world where Buick outsells Chevrolet. It's called China. Buick is the top seller for General Motors' Shanghai GM venture. November sales in China for the Buick brand reached 70,172 vehicles, a 17% gain from the same month a year earlier. The Regal sold 9,204 units, almost 10 times the volume it sold in the U.S. last month. Chevrolet sold 63,012 vehicles in China last month, a 15% gain over the same period a year earlier. GM is the largest foreign automaker in China.
October 18, 2012 |
Creative Artists Agency and one of the top talent agencies in India, Kwan Entertainment & Marketing Solutions, have formed a joint venture to represent Bollywood talent, in a move that underscores the importance of the growing Asian market to the entertainment industry. The newly formed CAA Kwan will pursue opportunities for talent in film, television, music, commercial endorsements, sports consulting and other businesses. The company will be based in Mumbai, with offices in Delhi, Bangalore and Hyderabad.
September 24, 2012 |
Sotheby's will expand its presence in China with a new, 10-year joint venture that will see the auction house giant team up with a state-owned Chinese art company. The deal will create a new entity called Sotheby's (Beijing) Auction Co., Ltd. Sotheby's said the new company would be the first international fine-art auction house in China. The agreement is subject to approval from the Chinese government. Under the new deal, Sotheby's said it would focus on auctions and exhibitions.