China’s Alibaba Pictures has invested in two of Paramount‘s summer movies; Star Trek Beyond, and Teenage Mutant Ninja Turtles: Out of the Shadows.
This is the second time that Alibaba Pictures has been in partnership with Paramount. Last summer, they invested in Mission: Impossible – Rogue Nation.
“We had a great experience working with Paramount on Mission: Impossible, and are very excited to join forces again for these two pictures, both of which have terrific fan bases in China that we hope to cooperate with Paramount to grow even larger,” said Alibaba Pictures President Zhang Wei.
Alibaba is one of the companies trying for the 20-40% minority state that Paramount is selling, as reported by TrekToday last month.