Weinsteins create fund for Asian movie-making
Last Updated: Wednesday, August 8, 2007 | 3:56 PM ET
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Film moguls Harvey and Bob Weinstein announced a $285-million US movie fund on Wednesday that will invest in Asian projects, including the first film to star both Jackie Chan and Jet Li.
The Asian film fund will produce or buy the rights to 21 feature films and 10 straight-to-video films over the next six years.
High-profile projects include a remake of the 1954 Akira Kurosawa classic The Seven Samurai, about a poor village that is defended from bandits by seven samurai, and a live action version of Mulan, the story of an epic Chinese hero.
The Weinsteins also are backing The Forbidden Kingdom, about a group of martial arts warriors who set out to free the imprisoned Monkey King, which stars both Chan and Li. It is currently filming in China.
The fund will also finance their three-picture deal with Hong Kong director Andrew Lau, creator of Infernal Affairs, and 24 producer Tony Krantz.
The Weinsteins hope to enjoy the lower costs of shooting in Asia, but use their influence to help create films that appeal to Western audiences.
The brothers are the brains behind Miramax, considered one of the best independent film studios in the 1990s. It was later bought by Walt Disney Co.
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