Wanda said in talks to buy US movie studio
Print Edition
CHINA’S Dalian Wanda is reportedly in talks to buy a controlling stake in US film studio Legendary, providing the company with a key anchor in Hollywood.
The media and property group controlled by China’s richest man Wang Jianlin is in advanced stages to buy the studio behind blockbusters “Godzilla” and “Pacific Rim,” according to reports yesterday in the New York Times and Financial Times newspapers.
The FT said Legendary Entertainment studios was valued at approximately US$3-4 billion, according to people familiar with the matter.
Wanda executives could not be reached for comment.
China earns the second-highest box office revenues in the world after the United States, according to the Motion Picture Association.
Wang burst into the international spotlight in 2012 when he bought major US cinema chain AMC Entertainment for US$2.6 billion.
In China, Dalian Wanda owns more than 200 malls, shopping complexes, luxury hotels and the country’s largest cinema chain.
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