Wellington-based Silverscreen Prods. and visual effects company Oktobor are forming a company with Taiwan-based Equinox Film to produce a $40 million epic fantasy based on a popular Asian legend, titled LADY WHITE SNAKE, reports THE DOMINION POST. The film will be in English and is set for release in 2008 before the Beijing Olympics.
Silverscreen and Equinox will split the budget cost. However, the film will be eligible for the New Zealand's Large Budget Screen Production Grant and the Taiwanese government has agreed to cover 55% of Equinoxs portion. Oktobor head Dean Lyon said it will be a mix of live-action and computer animation.
Equinox was founded by Hou Dejian, well known in Asia for composing a popular folk song HEIR TO THE DRAGON.