Viacom - owned production company Paramount pictures fell short of striking a deal with Shanghai Film Group and Hua Hua Media to receive $ 1bn in financing for new films , according to unnamed sources cited by the New York institute . The deal , which would have seen the company invest $ 300 m in Paramount films this year , would have offset the production company 's loss of $ 450 m last fiscal year . Paramount is the latest company to be affected by the Chinese government 's clampdown on capital outflows , with $ 75bn of China - originated overseas deals cancelled in 2016 across all industries , according to figures in the Financial Times .
Viacom-owned production company Paramount Pictures fell short of striking a deal with Shanghai Film Group and Hua Hua Media to receive $1bn in financing for new films, according to unnamed sources cited by the New York Post. The deal, which would have seen the groups invest $300m in Paramount films this year, could have alleviated the production company's loss of $450m last fiscal year. Paramount is the latest company to be affected by the Chinese government's clampdown on capital outflows, with $75bn of China-originated overseas deals cancelled in 2016 across all industries, according to figures in the Financial Times.