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Wanda’s Legendary Buy Is Just the Beginning of China’s Investment in Hollywood

13 January 2016 3:00 PM, PST | Variety - Film News | See recent Variety - Film News news »

The arrival of Chinese investment in Hollywood has been like a blockbuster film — full of economic force, exceeded only by its hype.

With Wanda Group’s deal last week to acquire Thomas Tull’s Legendary Pictures, though, the long-anticipated, loudly heralded arrival of China as a central entertainment player on American soil may finally be coming to full flower.

The transaction, for about $3.5 billion, gives the Chinese conglomerate control of the production and financing operation behind Hollywood blockbusters such as “300,” “The Dark Knight” and “The Hangover” films. More importantly, it is the most obvious bow by a U.S. content generator to the power of Chinese capital and the tractor-beam allure of the fast-expanding Chinese market.

And more such hookups may be on the way. One well-placed financier said that one or more significant Chinese investments in entertainment outfits could close before Feb. 8, the Chinese New Year. The money man, »

- James Rainey

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