Netflix is shifting to a less-predictable and far less-profitable business model as they embark on becoming a content creator rather than aggregator.
China’s Recon Group fails to close its acquisition of Avi Lerner’s Millennium Films. All Hollywood-China deals are in peril, as many have failed to close this year.
Wanda Group dismissed “vicious rumours” that its chairman Wang Jianlin and China’s richest person, was detained by authorities and forbidden to leave China.
Sony Pictures’ co-financing partner, LStar Capital, informed the studio at the last minute that they would no longer invest in Sony’s slate.
A mysterious document that appeared on social media in China places all of Wanda’s Hollywood acquisitions in jeopardy.
If reports from China are to be believed (clearly they cannot), a company with $19 million in revenue was going to finance $1 billion of Paramount’s slate.
Wang Jianlin, chairman of Wanda Group, warned the U.S. last week against implementing protectionist measures for media assets.
Wanda’s CEO Jianlin is in Hollywood to purchase more media properties. The acquisition of Legendary for $3.5 billion was the biggest Hollywood-China tie-up.
In August 2015, angry investors who lost money on Shan Jiuliang’s Fanya Metals Exchange, attacked, detained, and escorted him to the closest police station.
BOTTOM LINE ~> Vivendi continues its acquisition mandate by increasing holdings in Ubisoft and Gameloft. Vivendi owns roughly 10% of each French game company. They are still sitting on the cash from their divestment from Activision, and indications point to a plan to fully acquire either or both game makers in the coming months.