Magazine article Screen International

Venice to Fete 'Minions' Producer Chris Meledandri

Magazine article Screen International

Venice to Fete 'Minions' Producer Chris Meledandri

Article excerpt

Wanda Dalian Group has acquired leading Chinese movie portal and online ticketing platform Mtime for $350m.

Following the acquisition, Mtime's media, technical, marketing, big data and merchandising teams will oversee Wanda's activities in those related areas. Mtime's brand and entrepreneurial operations will remain independent of Wanda.

Mtime CEO Kelvin Hou will continue in his position as well as taking on additional oversight alongside Wanda senior executives.

Through combining Wanda and Mtime's membership and user base, the new division will have a reach of 220 million total active users.

Wanda and Mtime will also integrate their movie merchandising business to create China's largest movie merchandising e-commerce platform, which will also be open for third-party partnerships.

"Wanda is excited to have Mtime join us to build the movie industry in China together," said Wanda Theatrical Group CEO Zeng Maojun. …

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