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Russo Brothers to Sign Production Deal With China’s Huayi Brothers

Huayi Brothers is also a partner with STX Entertainment

The Russo brothers are in negotiations to sign a production deal with the China-based Huayi Brothers Media Corporation, an individual with knowledge told TheWrap.

Like many other Chinese film companies, Huayi Brothers aims to create English language films that play internationally. The two parties hope to develop high-concept projects that focus on storytelling and strong characters.

Huayi will own 60 percent of the equity shares, while the remaining shares will belong to the Anthony and Joe Russo, the “Captain America: Civil War” directors. Huayi also has a co-production deal with STX Entertainment.

This is the latest partnership between a sizable Chinese movie company and veteran Hollywood producers. The Chinese box office has grown rapidly in recent years, as both local and imported films have found huge audiences and new theaters continue to pop up.

But local film execs have been frustrated in the inability of Chinese movies to play well beyond China, which has sparked the development of local English-language films such as Matt Damon’s “The Great Wall,” which hits U.S. theaters in February. The historical adventure epic from Legendary Entertainment — owned by China’s Dalian Wanda Group as of January — is by far the biggest attempt yet to create a true crossover hit.