SINGAPORE - mm2 Asia announced on Thursday (Sept 7) a deal with two Chinese media companies to co-invest US$25 million to co-produce five films and multiple online films over the next three years.

To this end, its wholly-owned unit, mm2 Entertainment, will sign a memorandum of understanding (MOU) during the 2017 ContentAsia Summit with New Culture Media Hong Kong Ltd, a wholly-owned subsidiary of Shanghai New Culture Media Group, and 9i Film & Television Media Co Ltd.

mm2 Asia added that Dongfang Jiaying Television Cinema Media Share Company, which has received investments from various Chinese entertainment industry leaders including Alibaba Pictures, has expressed interest in taking part in the collaboration, looking closely at areas such as film investment and distribution, and new media financing.

Furthermore, Taiwanese publicly-listed post-production company, Bossdom Digiinnovation Co Ltd, also stated their interest in participating in this strategic alliance, said mm2 Asia.