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.
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.
Censorship and foreign content restrictions will limit Netflix’s ability to transition their licensing agreement with iQiyi into a meaningful foothold.
Paramount will not receive the $1 billion in slate funding from China’s Shanghai Film Group, and Hua Hua Media. A source said, the “Paramount deal is dead.”
China’s Recon Group plans to buy a majority stake in genre-distributor Millennium Films for $100 million.
Wanda Group is in the position to transform theatrical exhibition markets in English-speaking territories.
Update: Dick Clark Productions sues Dalian Wanda for $25 million after the Chinese conglomerate failed to complete it’s $1.07 billion buyout.
Xinke, a Chinese copper processing company revoked their offer to acquire 80% of Voltage Pictures for $350 million.