Chinese investment firm solves 'Transformers: Age of Extinction' dispute with Paramount

By Daniel S Levine,

Over the weekend, a Chinese investment firm’s dispute with Paramount Pictures over Transformers: Age of Extinction made headlines, but the firm must not have been happy with the publicity. The firm quickly resolved the matter on Monday.

Beijing Pangu Investment Co. had a product placement deal with Paramount, in which it helped finance a portion of the movie in exchange for its flagship hotel getting some screen time. The firm was not happy with the final product, though and said Friday that it was considering filing a lawsuit. It demanded that all mentions of the company be pulled from the film itself and all marketing material.

However, in a statement to the Wall Street Journal, Pangu said that the issues were solved.

“We have had a misunderstanding,” Norman Song, general manager of the Pangu 7 Hotel and spokesman for the firm, told the WSJ. “We're looking forward to the future cooperation with Paramount.”

Paramount Vice Chairman Rob Moore said it was “unfortunate” that the two sides had a misunderstanding, but they have “taken steps to put this behind us.”

Pangu blamed the misunderstanding on a third party that claimed it was representing Pangu. The firm already told authorities about it.

Age of Extinction is the fourth film in the Transformers franchise and was directed by Michael Bay. Mark Wahlberg, Nicola Peltz and Kelsey Grammer star in the film, which opens in the U.S. Friday.

image courtesy of INFphoto.com



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