You heard of the stock market rout in China since the opening of the year? Well, that hasn’t stop Chinese companies from making blockbuster deals. In the latest news out of China, China's Dalian Wanda Group will buy a controlling stake in Hollywood film studio Legendary Entertainment in a deal valued at US$3.5bn.
Led by China's richest man Wang Jianlin, Wanda is known as the world's biggest movie theatre operator with no experience in the movie-making business. That’s no concern to Mr. Wang it seems as Wanda will take control of the studio that made the recent Godzilla movie. Not only that, Legendary is the maker of Jurassic World, and the upcoming King Kong movie. There’s also plans to tie the two monsters together in a Godzilla-Kong cinematic universe.
So despite the vast amount of money spent, it does seems that Wanda have a good deal here. With past hits like The Dark Knight, recent hits like Jurassic World, and seemingly upcoming hits like King Kong; Legendary Entertainment seems like a good bet for a film studio. As for the rout on the Chinese stock market? Who cares when you can get Godzilla!