Legendary East hit by investor woes

BEIJING Legendary Pictures' plans for Hollywood-China movie production venture Legendary East suffered a setback yesterday after a key investor, Hong Kong's Paul Y. Engineering Group (PYE), put its $220.5 million investment on hold because of shaky financial markets. Deal was one of the biggest of a raft of agreements between Hollywood shingles and Chinese players aimed at getting into the booming Chinese market. PYE said in a statement that although the stock placing had received a positive response, it was not enough to complete the placing before the year-end deadline and the company decided to put the placing on hold. "However, we maintain that diversification with an investment in Legendary East is beneficial to PYE. We intend to work out an improved structure with the goal of re-launching the transactions," PYE chairman James Chiu said. PYE is publicly traded on the Hong Kong stock market and attempted to raise the Legendary East funds by placing new company stock with private equity firm AID Partners, and through UBS AG, to other institutional and professional investors. PYE said it would try again in 2012 by working with the partners to modify the structure of the deal. Under the original proposal, PYE planned to take a 50% stake in Legendary East. Thomas Tull's Legendary Entertainment would have been left with a 40% stake in Legendary East and China's Huayi Brothers would have the remaining 10%. In June, Tull paired up with Chinese-born Hong Kong media and finance entrepreneur Kelvin Wu to launch Legendary East. The goal had been to make one or two big-budget movies a year starting in 2013 that were aimed at global auds but also commercially viable in China. The movies were to be mainly in English and feature themes based on Chinese history, mythology or culture. Wu, formerly of Orange Sky Golden Harvest Entertainment, serves as Legendary East's CEO and is a principal at private equity firm AID Partners, which entered into a "subscription agreement" to invest $35 million in PYE to become a significant shareholder in the company. PYE is best known for its property management biz in Hong Kong's booming real estate market and for engineering work that has helped shape the city's ever-changing skyline. One of PYE's towers, the Center, which is Hong Kong's fifth tallest skyscraper, was used as a location in "The Dark Knight," which Legendary co-financed with Warner Bros. Legendary East was to enable Tull to bypass Chinese government restrictions that put a 20-pic limit on foreign films that can play in the country's theaters, and allow him to benefit from the growing box office in the region. Chinese B.O. surged 64% to $1.5 billion in 2010 and is expected to grow 30% in 2011 to $2 billion. Contact the Variety newsroom at news@variety.com

Start Searching: Debra Playing and Christian Borle on Smash

Smash Debra Playing graces our Televisions again in NBC's mid-season musical Smash, debuting February 6, and this time around around, she's got another willful partner! The Emmy champion stars just like a Broadway songwriter alongside Legally Blonde Tony Award nominee Christian Borle, who plays her writing partner. "The chemistry of the relationship is actually essential," states professional producer Theresa Rebeck. Despite the fact that Messing's character stays behind the curtain, expect her to belt out a sound lesson or two. Does she increase the risk for Great White-colored grade? "She sounds excellent!In . states Rebeck. That's music towards the ears. Subscribe to TV Guide Magazine now!

Don't Cry For Albert Brooks, Says Best Awards E-Mail Ever

It’s the little things that get us through one otherwise interminable awards season after another: Oscar-nominee trading cards, #ConsiderUggie, The Daldry… That kind of stuff. But perhaps the most remarkable development of the current awards cycle sprung immediately, kind of miraculously from the previous most remarkable development of the current awards cycle. And it all benefits Drive scene-stealer (and recent SAG Award snubbee) Albert Brooks. Like a cool, calm yet furious avenger sauntering into a room full of showgirls with a hammer in one hand and a bullet in the other, a rep for Drive casually sent along the following dispatch this morning. I share it in its entirety not only for context’s sake, but as a brass-balled example of the best that awards publicity has to offer — transcending unmistakably bad news by saying, in a nutshell: “Yes, we know Mr. Brooks was snubbed. No, we’re not worried. Here’s why. You can’t stop what’s coming. Especially you, Christopher Plummer.” Whatever this guy is paid, it’s not enough: Good Afternoon Friends, We appreciate all of your continued support of DRIVE and coverage of the film, especially following this morning’s SAG noms. Thank you for all of your shout-outs to Albert Brooks on Twitter and in your analyses of the SAG nominations in regards to his not being recognized today, but we remain confident that the Supporting Actor race still boils down to a two-man showdown between Albert and Christopher Plummer. If you will recall, Marcia Gay Harden was not nominated for the SAG in 2000 after her win for Best Supporting Actress at the NYFCC, and went on to win the Oscar for her critically-lauded performance. Albert Brooks has been the critical favorite and consensus pick for Best Supporting Actor so far in 2011 for DRIVE, so let’s take today in stride, especially following the onslaught of his multiple critics wins for Best Supporting Actor this week. Brooks has scored wins and nominations everywhere from the NY Film Critics Circle to Las Vegas to San Diego to Boston, yet inexplicably missed out at SAG. We expect that tomorrow the Hollywood Foreign Press will show Albert some love and that eventually the Academy voters will follow the lead of critics across the country and nominate Albert as Best Supporting Actor. For a little more perspective on the SAG race, please note the list below of the 19 men nominated in the Best Supporting Actor category since the awards’ inception in 1994 who have NOT gone on to be nominated for the Oscar: Kevin Bacon - Murder in the First (95) Don Cheadle - Devil in a Blue Dress (95) Hank Azaria - Birdcage (96) Nathan Lane - Birdcage (96) Billy Connolly - Mrs. Brown (97) Ned Kelly - Waking Ned Devine (98) Chris Cooper - American Beauty (99) Gary Oldman - Contender (00) Hayden Christiansen - Life as a House (01) Alfred Molina - Frida (02) Dennis Quaid - Far from Heaven (02) Chris Cooper - Seabiscuit (03) James Garner - Notebook (04) Freddie highmore - Finding Neverland (04) Don Cheadle - Crash (05) Leonardo DiCaprio - The Departed (06) Tommy Lee Jones - No Country for Old Men (07) Dev Patel - Slumdog Millionaire (08) Thank you all for your continued support of DRIVE and Albert Brooks! Swoon. No, really — thank you. EARLIER: SAG Award Nominations: Help Soars; Michael Fassbender, Albert Brooks Snubbed

First trailer for your Flowers Of War

The initial trailer has turned up for period epic The Flowers Of War, starring Christian Bale just like a priest caught at that time in the Japanese invasion of China.Occur the city of Nanjing in 1937, the film sees Bale's holy guy abroad within the entering Japanese forces. Seeking sanctuary, he switches into hiding inside a local chapel along with several defiant local women.Take a look within the trailer below... Directed by Hero's Zhang Yimou, the film looks pretty spectacular in the visual perspective, and Bale looks set to belt out his great deal of grand-standing speeches, even if a couple of from the dialogue comes from the identikit, "amount of war", soul-searching variety.Most likely probably the most pricey film in Chinese movie history, The Flowers Of War will probably be released in your home country on 16 December 2011, getting a Western release pencilled looking for early next season.

Vital Pictures Acquires Best-selling Book Tigers Curse For Mary Parent

EXCLUSIVE: Vital Pictures has acquired screen rights for the Colleen Houck novel Tiger’s Curse. Mary Parent will produce through her Disruption Entertainment banner with Raphael Kryszek. The novel is about a 17-year-old girl needing a temp job being careful of the white-colored tiger from our circus and sparks by having an epic adventure when she discovers the tiger can be a cursed Indian prince who turns into a guy just for 24 minutes daily. Their pursuit to finish the curse leads them through exotic locales in India and brushes with Hindu gods and goddesses. Houck initially self-launched the title on Kindle Books after it showed up at No. 1 round the bestseller fiction list, it had been launched by Splinter which is presently comes up the NY Occasions Children’s list. It remains changed into 15 languages.

Hot Teaser Trailer: Madagascar 3: Europes Popular

While using initial few grossing greater than $1.1 billion worldwide, it’s a cinch we'd see greater quantity of these males. This time around around they traverse Europe getting a circus. Ben Stiller, David Schwimmer, Chris Rock, Jada Pinkett Cruz, Sacha Baron Cohen and Cedric the Artist return, with Frances McDormand in pursuit just like a French police officer (shades of Fargo?). Noah Baumbach scripted, Eric Darnell directed. Opens June 21.

Rare 'Empire Strikes Back' Interviews: Prequels, Sequels as well as the 'Controversial' Ending

In the event you loved our Billy Dee Williams/Harrison Ford photo in the 2009 week, then you'll probably love this. The Condition Alien Blog recently released a press video from 1980, featuring rare interviews while using cast and crew of 'Empire Strikes Back.' A couple of from the highlights include Harrison Ford speaking about the potential for 'Star Wars' sequels (Episodes 7, 8, and 9) director Irvin Kershner safeguarding the thing that was then considered 'Empire''s questionable cliffhanger ending and David Prowse, who carried out Darth Vader, unsure in regards to the finish in the movie since George Lucas positively gave him an imitation script (Mark Hamill was really the only cast member who understood what can happen). To save you time, benefit from the best quotes below (although, if you're a 'Star Wars' fanatic, the whole factor is unquestionably worth watching). Mark Hamill on his infant boy "Everyone was hoping to get him very plainly, because after they return and perform tales that have been 2 decades earlier, in [Episode 3] ... there's an 8-year-old Luke experimenting and playing without anyone's understanding, which i mentioned, 'Wait about a minute, one actor inherited is enough personally.AInch David Prowse on finding Darth Vader was Luke's father "It surprised me, really, because I didn't know anything relating to this until I used to be occur the cinema last Saturday ... I practically flattened inside the chair." Harrison Ford round the difficulty actor Anthony Daniels faced while playing C3PO "You've not a clue the torture [he] experienced to see that part ... It needed this type of very long time to put him inside the costume plus it needed this type of very long time to acquire him from this.In . Harrison Ford round the potential 'Star Wars' sequels "The story we take part in now really concludes itself over the following film, after which it George progresses concentrating on the same milieu but different figures ... Our figures virtually conclude their story in ['Return in the Jedi']." Billy Dee Williams on audiences thinking he's the "token black guy" "I don't consider people things really...I used to be pleased to become requested incorporated within the 'Star Wars' cast." Irvin Kershner round the "questionable" ending "It had been the ending. [It] may jar [audiences] only because after they saw 'Star Wars' ... there's a triumphant ending." [via Official Alien Blog and io9] Follow Moviefone on Twitter Like Moviefone on Facebook