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Tang Media Partners acquires Open Road

Representatives confirm deal on Monday.

Tang Media Partners (Tmp) has acquired Open Road Films as part of a $500m expansion plan.

Tmp representatives said the Open Road transaction followed a fund raise earlier in the year through the Los Angeles-based company’s strategic shareholders and partners, including return investor Tencent Holdings.

Open Road CEO Tom Ortenberg will continue as CEO while AMC and Regal, the backers with whom he launched the company in 2011, will stay on through a long-term marketing partnership.

Screendaily understands Chinese-American businessman Donald Tang (pictured) had been circling Open Road on and off for about nine months. The acquisition complements Tmp’s content creation and data analytics business, and Im Global, Stuart Ford’s sales, production and finance company in which Tang bought a 60% stake last year.

The deal gives Open Road access to Tmp’s Chinese and international distribution channels. However it was unclear whether that meant the end of Open Road’s

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