Hogan Lovells Advises Studio 8 on Launch of New Hollywood Studio
08 October 2014
LOS ANGELES, 8 October 2014 – Hogan Lovells represented Studio 8 Holdings, LLC in the launch of its wholly-owned subsidiary, Studio 8, a new film and television studio run by Jeff Robinov, former long-time head of Warner Brothers Motion Picture group.
The multi-party transaction totals US$1 billion. It includes US$200 million in equity funding from China's Fosun International, with an additional US$50 million from Sony Pictures Entertainment, and a credit facility closed 3 October from a bank syndicate led by JPMorgan Securities and including Union Bank, CIT OneWest bank and Bank of America. The investment by Fosun represents one of the largest Chinese investments in the U.S. film industry to date.
Studio 8 is expected to produce at least five major releases a year in a range of budgets and multiple genres. Fosun is expected to lend its expertise in the Greater China market to Studio 8 and how it develops productions that meet demand there. While at Warner Bros, Robinov shepherded many successful major films attracting worldwide audiences including “Inception,” “Gravity,” “The Matrix” and the Harry Potter series.
The Hogan Lovells cross-border team was led by Los Angeles partner Sheri Jeffrey, joined by partners Barry Dastin and Russ Cashdan, senior lawyer Paul Barkes, partner Mark Weinstein in New York, and associate Frank Zhang in Shanghai. Ziffren Brittenham LLP was co-counsel to Studio 8, led by its partners Skip Brittenham and Bryan Wolf.