Transformers: Age of Extinction, Chinese Firm Ends Deal With Paramount [Watch YouTube Clip]

Reporters hold umbrellas under a 21-foot tall model of the Transformers character Optimus Prime during heavy rain before the world premiere of the film "Transformers: Age of Extinction" in Hong Kong June 19, 2014. REUTERS/Tyrone Siu

While fans are eagerly awaiting for the "Transformers: Age of Extinction" to hit the big screen, Chinese firm Beijing Pangu Investment has pulled out the sponsorship contract with Paramount Pictures on grounds of breach of contract.

According to Hollywood Reporter, the Chinese investment firm provided the financial resources to the movie production. In return, the film featured Pangu Plaza Hotel, the company's flagship building. The company issued a statement accusing Paramount Pictures and other Chinese associate partners for failing to give full value of their buildings in the much-awaited "Transformers: Age of Extinction" film.

"This has caused huge financial loss and damage to the reputation of our company," Beijing Pangu Investment stated. The firm stated the Paramount did not meet the terms of the contract. The company filed a lawsuit with the courts pertaining to the breach of contract, damage to reputation and financial loss.

Following the termination of contract on June 15, the Chinese investment firm has pulled out the permission for Paramount Pictures to use its licensed contents in the movie. It demanded for the removal of Beijing Panghushi's image, logo or building views from the marketing and the movie.

"When marketing and distributing TRANSFORMERS 4: AGE OF DISTINCTION, [Paramount] is not allowed to use our company's image, logo, our building's inside and outside views and its recognition elements, if already used in the film, they shall all be deleted," Beijing Pangu Investment stated on The Wrap.

The deal between Beijing Pangu Investment and Paramount Pictures was announced with much pomp last year at the Shanghai International Film Festival. Aside from the Pangu Plaza Hotel, it was also agreed that two Olympic venues - the Beijing National Stadium and Beijing National Aquatics Center - will also be featured in the movie.

A Paramount representative stated to Hollywood Reporter: "Pangu Plaza has 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."

Paramount has been cultivating the Chinese market and with the strong Chinese elements in the "Transformers: Age of Extinction" it is not clear what impact will the Pangu's withdrawal would have on the movie's marketing.

"Transformers: Age of Extinction" will be out in cinemas on June 27, 2014.

Watch the trailer of "Transformers: Age of Extinction" from YouTube.