Huayi Brothers clinches US films deal

China's largest private film company has reached an agreement with an unnamed United States company to co-produce and distribute at least 18 feature films by the end of 2017.

The agreement, reached through Huayi Brothers Media Corp's wholly owned US subsidiary, signals that the Chinese entertainment conglomerate aims to increase cooperation with major screen markets globally.

Under the agreement, Huayi will take a direct share of global revenues, profits in proportion to its equity in the films, and the distribution fees. It also retains distribution rights in Hong Kong, Macao, Taiwan and Singapore.