Just days before “Transformers: Age of Extinction” debuted in China, Beijing Pangu Investment, a prominent sponsor of the fourth installment to the “Transformers” movie series, has terminated its sponsorship deal with the production, claiming producers of the film failed to meet the terms of the agreement.
According to a report published in the Hollywood Reporter, the investment company provided financial resources to the production, and in exchange, Paramount Pictures agreed to feature Pangu Plaza Hotel, the company’s flagship building, in the film.
But Beijing Pangu Investment accused the film studio and its Chinese associate partners this week that they failed to give them the “full value” of showing the building in the much-awaited Michael Bay flick, according to The Wrap.
In a statement sent to The Hollywood Reporter, a spokesman for Paramount said: “Pangu Plaza has a prominent placement in ‘Transformers 4’ and it looks beautiful onscreen. We regret that Pangu is not currently satisfied with certain aspects of our collaboration and are working to resolve its concerns.”
Following the termination of the contract on June 15, Beijing Pangu Investment has asked Paramount to remove its licensed content (company’s image, logo, or views of the building) from the movie’s marketing materials as well as from the film itself.
The company has also filed a lawsuit concerning its complaint and alleged loss of reputation and money.
The “Transformers” saga has a huge following in China. The third installment of the franchise, “Transformers: Dark of the Moon” grossed $177m in the country in 2011.
