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!
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