Legendary Deal Will Transform China’s Wanda Into Entertainment Giant
The impending deal for Dalian Wanda group to buy a majority stake in Legendary Entertainment is poised to create a global entertainment powerhouse that would give China an even more significant foothold in Hollywood.
When the Chinese conglomerate acquired big U.S. movie theater circuit AMC Entertainment for some $2.6 billion in 2012, skeptics were quick to emerge. Who was Wanda? Why was it overpaying for an asset in such a financially challenged business? Did the company have the necessary finance to close the transaction? Did it have the ability to move that amount of capital out of China?