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China Lion, Serenity Media Plan to Raise $150 Million Film Fund

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April 13 (Bloomberg) -- Serenity Media Group and China Lion Culture Media Co. plan to raise at least $150 million to finance U.S.-Chinese co-productions.

The companies intend to finance two to four movies a year, Serenity, based in Beverly Hills, California, and Beijing-based China Lion said in an e-mailed statement.

Hollywood studios are trying to increase ties with Chinese film production and finance companies. DreamWorks Animation SKG in February announced a venture, Oriental DreamWorks, with two Chinese state-owned companies to develop projects including theme parks and live entertainment.

China Lion Culture Media is affiliated with China Lion Film Distribution Inc., a distributor of Chinese films to U.S. cinemas.

To contact the reporter on this story: Michael White in Los Angeles at mwhite8@bloomberg.net

To contact the editor responsible for this story: Anthony Palazzo at apalazzo@bloomberg.net

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