China’s richest man, Wang Jianlin, has been on a buying spree in Hollywood.
His media conglomerate, Dalian Wanda Group, has aggressively expanded into the U.S. film industry. The company, which already owns the nation’s second-largest theater chain and a major U.S. film producer, recently signed a deal to invest in Sony Pictures movies. Now, Wanda is in talks to buy the iconic Dick Clark Productions, producer of the Golden Globe Awards, in a deal that values the company at about $1 billion.
And Wang, 61, may just be warming up. The brash executive has proclaimed his desire to acquire one of the six major Hollywood studios and vowed to “change the world where rules are set by foreigners.” Wanda recently was in talks to buy a 49% stake in Paramount Pictures until parent company Viacom Inc. scuttled the sale.
Full story: http://www.latimes.com/entertainment/envelope/cotown/la-et-ct-wanda-hollywood-20160928-snap-story.html
