Fwoked: Warner Brothers Gets Out of Cinemas

Saturday, November 11, 2006 16:04
Comments Off on Fwoked: Warner Brothers Gets Out of Cinemas

Our first official Fwoked post comes at the expense Warner Brothers who have announced that they are pulling out of their China cinema investments.

While publicly the industry has been fighting a losing battle with music and movies pirates, there have also been many restrictions within the industry that have left many foreign companies to make hard choices about their ongoing concerns in China.

During this summer it was the cartoon industry that was dealt the first major blow as foreign cartoons were forced off the air during primetime slots. Then earlier this month came the death blow for the WB theaters when foreign investment rules stipulated that only 49% of a JV could be held buy the foreign partner.

As reported in the news (Reuters and China Daily), Warner brothers has been operating in China for 4 years under the name Warner Brothers International Cinemas (WBIC), managed 6 cinemas in Shanghai (up to 30 more planned), and took in about 15 million USD from ticket revenues in the last year.

As luck would have it, just before WB got Fwoked, IMAX made an announcement of their own about the bright future of their plans.

To learn more about other Fwoked Companies go here.

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