'Avengers' directors to partner with Huayi brothers

(Beijing) – One of China's largest private film studios, Huayi Brothers Media Corp., said it has signed a production partnership with American film directors Anthony Russo and Joseph Russo of "Captain America: Civil War" fame.

In a statement filed with the Shenzhen Stock Exchange on Aug. 29, the Chinese film conglomerate said it will pay US$ 250 million for a 60 percent stake in a joint venture with Oakton Circle LLC, a company owned by the Russo brothers. The investment plan has won approval from Huayi Brothers' board of directors, but still needs to get the green light from shareholders, according to the statement.