June 21, 2014 03:17:47 GMT
A Chinese company suspends cooperation for the new 'Transformers' movie after the studio allegedly failed to fulfill their promise.
Beijing Pangu Investment Company has accused Paramount Pictures of failing its side of bargain in their "Transformers: Age of Extinction" deal. The Chinese company contributed to financing the movie in return for the inclusion of Pangu Plaza in the movie and the commercial advertisements of the building in Beijing.
Pangu now demands the studio to remove any scenes depicting the logo or properties of the company from the movie and other marketing materials. In a statement released on Wednesday, June 18, Pangu said Paramount failed to perform contractual obligations and they had filed court charges related to its allegations.
According to local reports, Pangu's complaints included an unfulfilled promise that the film's world premiere would be held at one of its hotels. Director Michael Bay and the film's cast attended a premiere at a cultural center in Hong Kong on Thursday instead.
"This has caused huge financial loss and damage to the reputation of our company," Beijing Pangu Investment said in a statement. "When marketing and distributing 'Transformers: Age of Extinction', (the studio) is not allowed to use our company's image, logo, our building's inside and outside views and its recognizable elements. If already used in the film, they shall all be deleted."
Paramount has responded through their spokesman, saying "Pangu Plaza has a prominent placement in 'Transformers 4' and it looks beautiful on-screen. We regret that Pangu is not currently satisfied with certain aspects of our collaboration and are working to resolve its concerns."
"Transformers: Age of Extinction" was still scheduled to be released in China on Friday. It is also slated to be the closing night film of the Shanghai Film Festival on Sunday.
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