US$450m Warner Brothers movie-making deal eyes China
Casino mogul James Packer and Warner Bros strike US$450 million deal to produce 75 movies and tap growing Asian market

A consortium led by Australian billionaire James Packer and US director Brett Ratner has struck a massive movie-making deal with Warner Brothers, with an eye fixed firmly on Chinese film fans.
The co-financing deal is worth a reported US$450 million and will help cover the production of 75 movies.
Casino mogul Packer said the multi-year arrangement with his investment vehicle RatPac-Dune Entertainment was effective immediately.
It covers upcoming releases including Gravity with George Clooney and Sandra Bullock, Grudge Match starring Robert de Niro and Sylvester Stallone as well as projects with Clint Eastwood ( Jersey Boys) and Russell Crowe ( The Water Diviner).
However, Packer said that ultimately he hoped to tap into the booming Chinese entertainment market through Rat-Pac Dune, whose third partner is Dune Entertainment boss Steven Mnuchin.
"There is a globalisation play here," Packer told the Australian Financial Review on Tuesday.