Chinese billionaire real estate mogul Zhang Xing has made an undisclosed investment in arthouse distribution company and global streamer Mubi through his New York film company Closer Media, Mubi announced on Friday. Mr. Zhang will also serve on Mubi’s board of directors.
“We are excited to welcome Zhang Xin to our board of directors,” said Efe Cakarel, Founder and CEO of Mubi. “She is an extraordinary leader who has demonstrated unparalleled vision and resilience, and who has built a great company from the ground up. I deeply respect her and look forward to her expertise as our company continues to grow and innovate. I personally look forward to learning from their strategic acumen and entrepreneurial spirit.”
After amassing a fortune and reshaping the skylines of Beijing and Shanghai with SOHO China, the real estate group she co-founded with her husband Pan Shiyi, Zhang switched gears in 2022, stepping down as CEO of SOHO and becoming based in Manhattan. He launched a film production and film production business. financing group Closer Media; Closer’s projects include Ezra, directed by Tony Goldwyn and starring Bobby Cannavale, Robert De Niro and Rose Byrne. The Elon Musk documentary The Mask, the Monk and the Gun, directed by Alex Gibney, is from Oscar-nominated Bhutanese writer and director Pawo Choinin Dorji.
Mr. Chan called the investment in Mubi “an opportunity to be part of this innovative business at the forefront of the rapidly evolving film industry.” We are excited about Mubi’s forward-thinking approach to delivering high-quality content to a global audience and look forward to being a part of the company’s growth. ”
Cakarel launched Mubi as a streaming service in 2007 with a focus on international arthouse films, but in recent years the company has increasingly focused on its theatrical business. He directed the U.S. release of Coralie Ferguito’s body-horror satire film The Substance, which grossed more than $16 million at the domestic box office. Other recent releases include Sofia Coppola’s Priscilla and Andrea.
Arnold’s “The Birds” and Wim Wenders’ “Perfect Days.”
Upcoming films include Kelly Reichard’s Mastermind starring Josh O’Connor and Jim Jarmusch’s co-production Father starring Adam Driver, Charlotte Rampling, Cate Blanchett and Vicki Krieps.・Mother, Sister, Brother, etc.
