After two years of running Legendary Entertainment into the ground, China’s Wanda Group is exploring a sale of the once great production company.
Tang Media is set to purchase Open Road Films for an undisclosed amount. The price might as well be one dollar, given Open Road’s massive debt load.
A mysterious document that appeared on social media in China places all of Wanda’s Hollywood acquisitions in jeopardy.
Update: Dick Clark Productions sues Dalian Wanda for $25 million after the Chinese conglomerate failed to complete it’s $1.07 billion buyout.
The media industry’s increasing dependence on Chinese capital sets up a crisis once the chickens of China’s property market come home to roost.
Xinke New Materials is acquiring an 80% stake in Nicolas Chartier’s Voltage Pictures. The acquisition amount will range between $345 and $518M.
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.
China’s Perfect World Pictures will co-finance 25% of Universal’s B-slate over five years. The $500 million deal is the second major tie-up in a week.