In latest news coming from China, former Disney studio chairman Dick Cook on Monday launched his own entertainment company with $150 million with funds from a Chinese investment group. The LA based entity, called Dick Cook Studios, will focus on creating family-focused movies, TV shows and other entertainment content.
The company will offer both live action as well as animated content for television and feature films as well as digital and educational products. The deal with investor CITIC Guoan was announced Monday by Cook at the Beijing International Film Festival.
Cook served as Disney chairman till 2009 and had reportedly been seeking to start up a family-entertainment focused production company for a number of years.
“This has been quite a journey for all of us,” a beaming Cook said at the festival. “It takes time to find the right company and people you want to be in business with.”
CITIC Guoan is subsidiary of China’s state-owned CITIC Group, and has invested in a range of businesses, including film, TV, tourism, publishing and sports.
CITIC Guoan Chairman Li Shilin said he chose to partner with Cook and team because of their long experience. “They appreciate and understand traditional Chinese culture, and they look forward to telling Chinese stories that will play to families across the globe.”