![]() Grode, a lawyer with Irell & Manella in Los Angeles who has been involved in movie deals in China, said that TPG and Fosun were most likely attracted by both Cirque’s high brand recognition in the West as well as the prospect of a China expansion. “We are excited about the opportunity to bring our global platform of resources and know-how to propel the growth of Cirque’s unique brand, content and capabilities around the world,” David Trujillo, a partner at TPG, said in a statement. The investors did not offer many specifics about their plans in China, instead speaking to their global ambitions. Leroux said, have combined those elements with Cirque’s style to create successful shows. Instead, the Chinese tend to prefer shows that feature large numbers of performers, where the acrobatics “are choreographed and very precise.” Several Chinese circuses, Mr. ![]() He says that Cirque usually focuses heavily on New Age narratives, often about the plight of a common man or woman. On Sunday, Dick Cook, a former chairman of Walt Disney Studios, announced the formation of a movie company in partnership with the Chinese conglomerate Citic Guoan Group. Several American movie studies, including Lionsgate, Studio 8 at Sony Pictures and STX Entertainment, have formed joint ventures with Chinese players. The Walt Disney Company is building a $5.5 billion theme park resort in Shanghai. Investors and companies around the globe are trying to capitalize on the swelling leisure spending by China’s growing middle class. The plan is to open a Cirque office in China. One of the buyers, Fosun of China, is heavily invested in entertainment and travel businesses, including the recent purchase of Club Med. On Monday, a consortium of private equity investors led by TPG agreed to buy Cirque du Soleil for 1.5 billion Canadian dollars, a purchase that will pave the way for the company to expand into China. But a group of investors is betting that China - and more important, its growing demand for Western entertainment - may be an answer to the circus troupe’s midlife ennui. OTTAWA - Like many a Vegas act, Cirque du Soleil had become a bit flabby and passé.
0 Comments
Leave a Reply. |