Magazine article Screen International

Wanda in Talks to Buy Dick Clark Productions

Magazine article Screen International

Wanda in Talks to Buy Dick Clark Productions

Article excerpt

Dalian Wanda, which owns or owns stakes in a number of US film companies including AMC Entertainment Holdings and Legendary Entertainment, is understood to have been in talks with Dick Clark Productions for approximately a year.

While sources that spoke to Screendaily have privately challenged the valuation of the TV production company behind shows like the Golden Globe Awards and American Music Awards, a transaction between the parties would keep the Chinese company on track with recent statements by chairman Wang Jianlin.

Speaking to Reuters in August, Jianlin said he expected to make two further $1bn acquisitions of US companies before year's end.

DCP owner Eldridge Industries on Monday evening released the following statement:

"Dick Clark Productions and Beijing Wanda Culture Industry Group Co., Ltd., have agreed to enter into exclusive talks with the shared goal of finalising a mutually satisfactory transaction. …

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