The Los Angeles Times interviewed Manatt's Lindsay Conner, co-chair of the firm's Entertainment and Media practice, for an article on why China's plummeting stock market is unlikely to affect the rapid rise of the Chinese movie business.
The Los Angeles Times reports that shares on the Shanghai Composite index dropped a total of seven percent, which brought an end to the trading day after just 14 minutes of active dealing on January 7. However, despite the market declines, sources said that the entertainment business in China remains fundamentally strong.
Conner told the newspaper that he does not think the market turmoil will dampen the flowering China-Hollywood relationship.
"Based on what we've seen so far, I don't believe it will change the pace of deal-making between Hollywood and China," Conner said. "Chinese companies see the value of Hollywood as a center of the global industry, and Hollywood companies see the value of China as a market and a financing partner. Stock markets will go up and down, but the fundamentals of that relationship won't change."
Read the article here.