US studios, China OK box-office settlement

China and Hollywood studios have reached an agreement that allows United States companies to recover more than $150 million of revenue-sharing box office receipts, ending an almost six-month dispute in the world's fastest growing movie market.

The Motion Picture Association of America Inc issued a statement on Aug 13 from its chairman and CEO Chris Dodd saying the Chinese government had intervened in the dispute between US movie companies and China Film Group Corp, the dominant distributor of foreign movies in the country.

The US businesses will get back the owed revenue in full and the payment process has started, Dodd said.