April 16th, 2012
04:04 PM ET
When it comes to cinema, the U.S. and China seem to be developing a shared vision.
This was further made evident by the Walt Disney Company's announcement Monday that it will co-produce and distribute “Iron Man 3" in China.
The newly-formed international partnership is between The Walt Disney Company China, Marvel Studios and DMG Entertainment of Beijing, according to a press release.
Disney said in the statement that DMG will co-produce the movie in the country but didn't specify which scenes from the Shane Black-helmed action film - starring Robert Downey Jr., Gwyneth Paltrow and Don Cheadle - would be shot overseas.
"The co-production of 'Iron Man 3' in China is testimony to the importance of this audience to Disney and the local industry capability to deliver a blockbuster title," the Managing Director of Walt Disney Greater China, Stanley Cheung, said in the statement.
Marvel Studios' exec Rob Steffens added that they're "confident that Marvel’s stories will continue to be enjoyed by Chinese audiences, and adding a local flavor, and working with our new local partner, will enhance the appeal and relevance of our characters in China’s fast-growing film marketplace."
The collaboration makes dollars and sense: Over the weekend, the 3-D re-release of "Titanic" made $67 million at the Chinese box office, giving it the best opening gross of all-time in the country, according to the Hollywood Reporter.
The staggering return has given the shipwreck classic a revenue boost, and it has now grossed $2 billion in its second week out internationally.
Production on "Iron Man 3" is set to start in the U.S. next month and in China in late summer, with a release date scheduled for May, 2013.
About this blog
Our daily cheat-sheet for breaking celebrity news, Hollywood buzz and your pop-culture obsessions.