GHY Culture Deal to Acquire Singapore’s Clover Films Is Canceled

Rising Chinese-Singapore entertainment group GHY Culture & Media has revealed that its proposed takeover of producer and distributor Clover Films is not going ahead. GHY announced plans in mid-June to acquire a 51% stake in the 12-year-old indie film company without revealing financial details. In a stock exchange filing, GHY said that its MOU with Clover and its period of exclusive negotiations had expired. No reason for the failed deal was given and the filing said that the two companies would “continue to explore other collaboration opportunities.” GHY was founded and remains headed by screenwriter and producer Guo and has… Read Full Article