Cloudary extends script to movie industry

Cloudary Corp - an online literature platform owned by interactive media giant Shanda Group - said on Friday that it reached a film script agreement with the Chinese movie firm Seven Stars Films.

Seven Stars Films, a movie production and investment firm owned by Chinese media entrepreneur Bruno Wu, will link Cloudary's literature with the world's movie industry.

Wu, who is married to popular TV host Yang Lan, founded Seven Star Films in 2012. The company has now invested in 14 movies and bought copyright to more than a hundred movies globally.

Meanwhile, Seven Star Films has established a series of joint ventures with globally famous movie directors and producers, including Avi Arad, Pierre-Ange Le Pogam and Justin Lin, in recent months.

Robert Chiu, Cloudary's chairman, said Cloudary owns more than 7 million original novels, forming a potential script treasure for the film-television industry.

"The strategic cooperation with Seven Stars Films marks the first time Cloudary will partner with a movie production firm," Chiu said at a Beijing briefing on Friday.