DMG Entertainment
| Traded as | : 002143 |
|---|---|
| Industry | Film |
| Headquarters | China |
| Website | www |
DMG Entertainment is a Chinese-based entertainment and media company. It began as DMG, an advertising agency, in the early 1990s, and it began distributing non-Chinese films in the Chinese film market in the late 2000s. It also began producing Chinese films, starting with The Founding of a Republic (2009). At the same time, the company established its US operations and began producing Hollywood movies and distributing them in China, such as Looper (2012), Iron Man 3 (2013), Transcendence (2014) and Point Break (2015). As part of a strategic reorganization in 2015, DMG announced its China-based operations would list on the through a reverse takeover involving Shenzhen Stock Exchange-listed Sichuan Gaojin Foods, a pork and meat processor. The deal, as reported by Variety, involved Gaojin issuing shares to buy up the larger DMG and set a valuation for DMG of RMB6.01 billion (US$970 million). Following the share issue, Peter Xiao Wenge, DMG's chairman and biggest shareholder, was reported to become the largest individual shareholder of the listed company. Under the new corporate structure, the listed Chinese company was renamed Yinji Entertainment & Media Co. Ltd. [SZSE 002143] or more commonly DMG Yinji. US-based operations remain privately controlled and operate under the DMG Entertainment brand.
DMG Yinji began as an advertising agency that was founded by Dan Mintz, Peter Xiao, and Wu Bing. In the late 2000s, DMG began distribution of non-Chinese films in Chinese theaters, including Twilight and Knowing.
Film production was added to DMG's portfolio in 2009, and its first production was The Founding of a Republic (2009). DMG also contributed to the productions of Looper (2012) and Iron Man 3 (2013) and distributed the films in theaters in China. DMG became involved with Looper as Endgame Entertainment's Chinese partner. After the companies closed the deal in January 2011, changes to film production included casting Chinese actress Summer Qing and setting part of the film in Shanghai. DMG's involvement allowed it to distribute the film in China at the same time as its international premiere, where there was usually "a blackout period" before non-Chinese films could be screened in China. While Chinese regulators did not grant Looper official co-production status, DMG's involvement with Looper as a Chinese company permitted its distribution of the film. Variety reported, "That means that the film could be considered domestically Chinese, which can provide the same benefits as a co-production."
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