Then There’s This… Chi-Coms to Buy Controlling Stake in Top Hollywood Studio
Just when you thought Hollywood could not get anymore anti-American, comes this…
The Chi-Coms want to purchase a controlling stake of a top Hollywood studio.
How much of the US does China Own?
Chinese companies spent $22 billion in the US housing market in 2014 – a two-thirds increase from 2013. In North Carolina one in ten hog farms are owned by Chinese companies. In 2012, Chinese President Xi Jinping and Vice President Joe Biden agreed to support Chinese construction companies in rebuilding America’s infrastructure.
Chinese powerhouse Dalian Wanda, a Communist Party linked conglomerate, is in talks to purchase Legendary Studios.
Chinese powerhouse Dalian Wanda is reportedly in talks to buy a controlling stake in US film studio Legendary, providing the Communist Party-linked company with a key anchor in Hollywood.
The media and property group controlled by China’s richest man Wang Jianlin is in advanced stages to buy the studio behind blockbusters “Godzilla” and “Pacific Rim”, according to reports Tuesday in the New York Times and Financial Times newspapers.
The FT said Legendary Entertainment studios was valued at approximately $3 billion to $4 billion, according to people familiar with the matter.
Wanda executives could not be reached for comment, and the company’s public relations firm did not respond to requests from AFP for a statement.
China earns the second highest box office revenues in the world after the United States, according to the Motion Picture Association.
Wang burst into the international spotlight in 2012 when he bought major US cinema chain AMC Entertainment for $2.6 billion. In China, Dalian Wanda owns more than 200 malls, shopping complexes, luxury hotels and the country’s largest cinema chain.