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May 02, 2006

TAIWANESE STUDIO SAVED

Back in March we reported that Taiwan's oldest studio, Central Motion Picture Corp, had been sold, was shuttered and would probably be torn down. Housing Taiwan's first soundstages, complete production facilities and a library of 250 films, CMPC was sold to the China Times Group which really didn't want it, but it came as part of a bigger deal, and there was a lot of speculation that the studio would be leveled and the land sold to developers.

But now businessman Gou Tai-chiang has ridden to the rescue, paying around $94 million for the studio. With its first board meeting scheduled for May 8, the new CMPC plans to appoint KMT legislator Tsai Cheng-yuan as chairman of the board, and inside sources say the studio will return to feature film production.

Hooray for the good guys who happen to have $100 million in their back pockets!

May 2, 2006 at 06:30 AM in News | Permalink

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