Hollywood Studio Partners with China Moviemakers

Hollywood studio Relativity Media says it is partnering with two companies to make Chinese films for global audiences and distribute movies in the fast growing Chinese market.

The partnership teams Relativity with private equity firm SAIF Partners and IDG China Media, an investment arm of Boston-based International Data Group.

Relativity will also distribute future films in China through a joint venture called SkyLand, in which the three companies are co-owners. SkyLand will also invest in local film and TV production.

The companies are working on bringing well-known Chinese folklore tales to the big screen around the world.

SkyLand recently co-produced "Snow Flower and the Secret Fan," a movie inspired by the novel by Lisa See.

Relativity has produced or co-financed more than 200 movies including "Cowboys & Aliens," ''Bridesmaids," and "Limitless."