China's Dalian Wanda Group buys film Hollywood film studio Legendary Entertainment
China’s Dalian Wanda Group is reported to be buying a controlling stake in Hollywood film studio Legendary Entertainment in a deal valued around $3.5bn (£2.4bn).
Wanda, the world’s largest film theatre operator, is led by China’s richest man Wang Jianlin who has been attempting to buy a Hollywood studio for a number of years. Prior to the current deal Wang had been in talks with DreamWorks Animation last year, however no deal materialised.
News of the deal with Legendary was announced at a press conference by both firms in Beijing and follows on form a week of rumours surrounding a possible deal. Read full story ›
Source: The Drum
