Sources: Paramount’s Chinese Partners Haven’t Paid a Penny of Promised $1 Billion | Hollywood Reporter

Shanghai Film Group and Huahua Media are said to have insisted on meeting with Viacom’s CEO amid questions over the studio’s direction.With China blocking money from leaving the country, Paramount Pictures has yet to receive the first payment it had expected from a billion-dollar financing deal with partners Shanghai Film Group and Huahua Media, sources tell The Hollywood Reporter. And it appears that the Chinese government is not the only roadblock.The Viacom-owned studio’s partners have expressed concerns since Paramount currently has no chairman and has announced a new strategy that relies in part on mining intellectual property from its television network siblings, including MTV, Nickelodeon and Comedy Central. The Chinese partners are said to have told Viacom that no funds will be forthcoming until they meet with Viacom CEO Bob Bakish and whomever is appointed to run the studio to get an explanation of the slate strategy going forward.Currently, Bakish is in talks to select a new leadership team, with former Fox film chief Jim Gianopulos and producer Michael De Luca currently favored.

Source: Sources: Paramount’s Chinese Partners Haven’t Paid a Penny of Promised $1 Billion | Hollywood Reporter

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