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Wanda group buys US’ Legendary studio for US$3.5 bn
Chinese conglomerate Dalian Wanda Group has bought US film studio Legendary Entertainment for about $3.5 billion, turning its chairman Wang Jianlin into a Hollywood movie mogul.
By
migrator
migrator
Beijing
Wanda confirmed the deal at a news conference in Beijing on Tuesday, where chairman said he plans to package Legendary, producer of hits like Jurassic World , with his company’s existing movie production assets in China and sell shares in the merged operation in an initial public offering.
The executive gave no further details on the IPO plan, but said was acquiring Legendary Entertainment for both intellectual property reasons and the studio’s movies.
Big Ticket
- Founded in 2000, Legendary Entertainment has made films like The Dark Night, Man of Steel and The Hangover.
- Legendary budgets could run up to US$ 200 million.
- Dalian Wanda group buys Hollywood’s Legendary Entertainment studio for US$ 3.5 billion.
- Wanda world’s biggest movie theatre operator with holdings in US, Australia and China.
- Wanda revenues up by 19 % last year Legendary founder and CEO Thomas Tull to remain as head.
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