New York-based production and finance company Closer Media has made an investment in Mubi, and billionaire Closer founder Zhang Xin has joined its board of directors.
Futher details of the size of the investment have not been revealed.
Zhang co-founded Closer Media with producer William Horberg in 2022. The company’s credits include upcoming features The History Of Sound starring Josh O’Connor and Paul Mescal, and Alice Winocour’s Stitches with Angelina Jolie, now filming in Paris.
Prior to launching Closer, Zhang was CEO and co-founder with her husband of Beijing-based real estate company Soho China, one of China’s biggest office buidling developers.
“She is an exceptional leader who has built an incredible company from the ground up, demonstrating unparalleled vision and resilience,” said Efe Cakarel, co-founder and CEO of Mubi.
“I deeply admire her, and I personally look forward to learning from her expertise, strategic insight, and entrepreneurial spirit as we continue to grow and innovate.”
Mubi’s recent successes include Coralie Fargeat’s The Substance which has grossed nearly $75m worldwide, making it the distributor’s most successful box office title to date. Up next is Kelly Reichardt’s The Mastermind starring O’Connor and Barry Keoghan-led Irish drama Bring Them Down.
Closer Media is also developing several non-fiction features including a George Orwell documentary from Raoul Peck and Alex Gibney’s Elon Musk documentary.
Zhang is also a trustee at New York’s Museum of Modern Art (MOMA).
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