Time Warner to move out of Chinese movie making business

Time Warner to move out of Chinese movie making business

Time Warner is the world’s largest media company and they have announced their decision to move out of the cinema business in China.

The company said that this decision has been taken because of the rules that bar it from controlling its ventures in this market.

Time Warner had earlier stepped up investment following a temporary rule published in 2003 that allowed foreign companies to own up to 75% of cinema ventures in seven Chinese cities.

However, that rule was changed later in 2005. This news comes in just as international companies including Eastman Kodak Co, Walt Disney Co, Viacom Inc, and News Corp are all investing in China.

The company also faces another major problem in this market in the form of piracy.