Mubi Welcomes Chinese Billionaire Zhang Xin to Board of Directors as Closer Media Invests in ‘The Substance’ Distributor

variety.com:

Elsa Keslassy International Correspondent Mubi, which recently planted a flag in the U.S. with the wide release of Coralie Fargeat’s “The Substance,” has welcomed Zhang Xin to its board of directors, as part of a new chapter for the rapidly expanding company which will also see Zhang’s New York-based film production and financing group Closer Media become an investor in Mubi.

A billionaire entrepreneur, Zhang co-founded Closer Media and previously co-founded Soho China, a construction giant in Beijing and Shanghai known for its iconic projects designed by leading architects from around the world.

She left the company in 2022 and partnered with William Horberg, a veteran producer whose credits include “The Queen’s Gambit” and “The Talented Mr.

Ripley,” to break into the media world. A patron of the arts, Zhang also serves as a Trustee of MoMA, and is a member of both the Harvard Global Advisory Council and Asia Business Council. “As an entrepreneur, investor and producer, joining the Mubi board is a special opportunity to be involved in this innovative business right at the forefront of the rapidly evolving film industry,” said Zhang, who praised Mubi’s “visionary approach to bringing high quality content to global audiences,” and said she looked forward to “being a part of the company’s growth.” Efe Cakarel, Mubi’s founder and CEO, described Zhang as an “exceptional leader who has built an incredible company from the ground up, demonstrating unparalleled vision and resilience.” “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,” Cakarel said.