Tang Media Partners Names Rob Friedman CEO of TMP Entertainment

Tang Media Partners, which acquired “Spotlight” distributor Open Road Films Monday, has named former Lionsgate film exec Rob Friedman as chairman and CEO of a newly formed division overseeing its showbiz properties, TMP Entertainment.

In his new role, Friedman will be in charge of Tang Media’s film, TV and digital assets, including Open Road Films, IM Global, and IM Global Television. He will report directly to Tang Media Chairman and CEO Donald Tang. Open Road CEO Tom Ortenberg will remain in his role and report to Friedman.

Friedman was formerly co-chairman of Lionsgate’s Motion Picture Group from 2012 to 2017, a position he assumed after Lionsgate acquired Summit Entertainment, which Friedman founded. At the mini-major, Friedman oversaw Lionsgate’s movie production, acquisition and distribution.

Also Read: Open Road Films Closes Sale to Tang Media Partners

It has been an eventful few days for Tang Media, which finalized a deal to acquire Open Road after Stuart Ford, founder and CEO of one of its other entertainment companies, IM Global, was pushed out over a dispute with management about the future direction of the company.

Tang Media is based in Los Angeles with other offices in Shanghai. The company raised a round of investment from partners including Chinese tech giant Tencent, but Tang and his U.S. investors remain its majority shareholders — helpful at a time when Chinese-owned companies are having a hard time navigating regulations to make cross-border entertainment deals.

Also Read: Zendaya's 'Duck Duck Goose' Acquired by Open Road Films

“In looking at our aspirations to become a global studio, there is no better person who can make this a reality than Rob Friedman,” Tang said in a statement announcing Friedman’s hiring. “Rob is a storied and incredibly well-respected studio executive who shares TMP’s entrepreneurial passion and pursuit of excellence as we look at new ways to help the entertainment industry grow in the U.S. and abroad.”

“Donald’s forward looking vision and overall acumen, coupled with the creative-driven legacies of both Open Road and IM Global, offer an unparalleled opportunity to build the next great global studio,” Friedman said in the statement. “I look forward to delving into the operational, creative and industry-wide work that will make TMP Entertainment’s path successful for creators and lucrative for shareholders alike.”

12 Chinese-Owned Media Companies, From Dick Clark Productions to AMC (Photos)

A firehose of Chinese investment has been flowing into Hollywood for the last few years, as Middle Kingdom firms have scooped up production companies and theater chains by the billion. And while D.C. has finally taken notice -- and is asking the government to take a closer look at foreign ownership of American content companies -- Chinese firms have already accumulated a substantial portfolio of media and entertainment-related companies often at healthy premiums. And Hollywood isn’t ready to look that gift horse in the mouth.
AMC/Carmike/Legendary/Getty Images
AMC THEATRES
Owner: Dalian Wanda Group

Wanda, a real estate and entertainment conglomerate owned by China’s richest man, Wang Jianlin, made its first Hollywood splash in 2012 when the company paid $2.6 billion for AMC Entertainment, the parent of AMC Theatres, the second-largest theater chain in the U.S.
AMC Theatres
Carmike Cinemas
Owner: Dalian Wanda Group

Wanda-owned AMC paid $1.2 billion to acquire Carmike Cinemas in a deal that just closed in November. The combined chain will be America’s largest theatrical exhibitor, passing former No. 1 Regal Entertainment.
Mike Kalasnik
Legendary Entertainment
Owner: Dalian Wanda Group

Wanda paid $3.5 billion for the “Jurassic World” production company in January, even though Legendary lost $500 million last year, according to a Chinese regulatory filing. However, plenty of Legendary’s high-octane action and fantasy flicks have been bigger hits in China than the U.S., such as “Warcraft.”
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Dick Clark Productions
Owner: Dalian Wanda Group

Wanda spent $1 billion to acquire the producer of the Golden Globes, American Music Awards and “New Year’s Rockin’ Eve.” The deal marks Wanda’s first foray into television after spending billions on the big screen.
Dick Clark Productions
Voltage Pictures
Owner: Anhui Xinke New Materials

Anhui Xinke, a copper processing company, bought an 80 percent stake in Voltage parent Midnight Entertainment for $351 million. Voltage is the production company behind Oscar-winning films including “The Hurt Locker” and “Dallas Buyers Club.”
Voltage
STX Entertainment
Owner: Hony Capital, Tencent

Independent distributor STX was founded with investments from private equity giant TPG and Chinese firm Hony Capital. The company also has a co-financing deal with China’s Huayi Bros. Media, and this year secured a strategic investment from Tencent to expand into digital content, music and virtual reality.
Getty Images
World Triathlon Corporation
Owner: Dalian Wanda Group

Wanda paid $650 million last year for the company that organizes the Ironman Triathlon races, folding it into its new Wanda Sports division.
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IM Global
Owner: Tang Media Partners

Tang Media Partners, which has offices in Shanghai and L.A., acquired a controlling stake in Stuart Ford’s film finance firm from Indian conglomerate Reliance in June. IM Global has financed or produced more than 30 Hollywood films, including Mel Gibson’s “Hacksaw Ridge.”
IM Global
Studio8
Owner: Fosun Group

Chinese conglomerate Fosun is the largest shareholder in former Warner Bros. chief Jeff Robinov’s production company, having invested $200 million in Studio8.
Getty Images
Dichotomy Creative Group
Owner: LeEco

Consumer tech company LeEco’s subsidiary Le Vision Pictures opened an L.A. office this year and hired former Paramount Pictures President Adam Goodman to run it and oversee a slate of English-language films. As part of the deal, LeEco acquired Goodman’s production company, Dichotomy.
Adam Goodman
Cirque du Soleil
Owner: Fosun Group

It’s a Canadian circus, not a movie or TV studio, but Cirque du Soleil operates six Vegas shows, several tours and earned $845 million in revenue in 2014. Last year, TPG and Fosun acquired a majority stake in Cirque du Soleil for $1.5 billion.
Getty Images
Riot Games
Owner: Tencent

Tencent acquired a 93 percent stake in the video game publisher for $400 million in 2011 and acquired the remainder last December. Riot’s “League of Legends” is the most played PC game in the world.
Getty Images

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Firms from China have been scooping up production companies and theater chains by the billion in recent years

A firehose of Chinese investment has been flowing into Hollywood for the last few years, as Middle Kingdom firms have scooped up production companies and theater chains by the billion. And while D.C. has finally taken notice -- and is asking the government to take a closer look at foreign ownership of American content companies -- Chinese firms have already accumulated a substantial portfolio of media and entertainment-related companies often at healthy premiums. And Hollywood isn’t ready to look that gift horse in the mouth.

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12 Chinese-Owned Media Companies, From Dick Clark Productions to AMC (Photos)

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