DMG Entertainment Movie Updates

Lionsgate and Tyler Perry's 34th Street Films have bought an action-comedy pitch from screenwriters Jim and Brian Kehoe for mid-six figures, sources close to the deal said.

Good Universe is in negotiations to pick up Cherries, a comedy spec by Jim and Brian Kehoe.

In a bid to tap the booming Chinese box office, Disney, its Marvel Studios and Beijing-based DMG Entertainment said Monday that they are teaming to co-produce Iron Man 3 in China.