/ world today news/ Billionaire Wang Jianlin is the first Chinese to control a Hollywood film company after he agreed to buy the American film studio Legendary Entertainment for 3.5 billion dollars.
So the owner of Dalian Wanda Group Co. acquired China’s largest overseas cultural acquisition. The deal paves the way for the creation of the world’s largest film company by revenue, Bloomberg reports.
In the 15 years since its inception, Legendary Entertainment has released more than 50 films, including Batman, The Dark Knight, Godzilla and Jurassic Park. With its purchase, Jiangling expands China’s influence over the US in the film industry. For the billionaire, it underlines his ambitions to expand his burgeoning entertainment empire. He owns the second-largest movie theater chain in the United States and is building the world’s largest studio complex, including a theme park.
The new studio ranks among the other acquisitions of the rich man – AMC Entertainment Holdings Inc., Infront Sports & Media AG and the Spanish team “Atlético Madrid”. The businessman shared that he plans to buy movie theaters in Europe as well, developing the entertainment sector on our continent as well, but he is waiting for the right moment because the prices are too expensive at the moment.
His wealth is estimated at $31 billion, according to the Bloomberg Billionaires Index.
Beijing / China
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