Magazine article Screen International

Wanda Targets Two Billion-Dollar US Acquisitions This Year

Magazine article Screen International

Wanda Targets Two Billion-Dollar US Acquisitions This Year

Article excerpt

Chinese entertainment and real estate giant Wanda Group is planning to complete two US film acquisitions of more than $1bn this year, its chairman has revealed.

Speaking in an interview with Reuters, Wang Jianlin [pictured], who is China's richest man, said that the company expected to finalise deals for two non-production companies by the end of 2016.

"My goal is to buy Hollywood companies and bring their technology and capability to China," said Wang, though he did not reveal further detail about the two prospective acquisitions.

Wanda would then target one of the "Big Six" Hollywood studios, he added.

As previously reported, Wanda held talks with Viacom las month about acquiring its stake in Paramount Pictures. The other 'Big Six' majors are Twentieth Century Fox, Warner Brothers, Walt Disney, Universal Pictures and Columbia. …

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