Paramount revives $1B China deal

|By:, SA News Editor

Paramount Pictures (VIA, VIAB) has revived its $1B slate deal with two Chinese media companies, which was presumed dead last month.

The studio's new Chairman and CEO Jim Gianopulos, who took over the studio in March, traveled to Beijing last week to try and resurrect the deal with Shanghai Film Group and Huahua Media, Variety reports.

First announced in January, the Chinese financing deal hit a roadblock in March as China continued to apply greater scrutiny to overseas investments.