Dalian Wanda Group, China’s largest property developer and the world’s largest cinema chain operator, has purchased US media company Legendary Entertainment for $3.5bn.
Upon completion of the deal, Wanda founder Wang Jianlin will become the first Chinese person to control a Hollywood film company.
Following the announcement of the acquisition, rumours quickly surfaced that Legendary Entertainment’s intellectual property – which includes Jurassic World, The Dark Knight and Godzilla – will soon be leveraged across Asia-Pacific’s burgeoning theme park and attractions industry.
“Together, Wanda and Legendary will create a completely new international entertainment company,” said Legendary CEO Thomas Tull.
“There is an ever growing demand for quality entertainment content worldwide and we will combine our respective strengths to bring an even better entertainment experience to the world’s audiences.”