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CHINA’S WANDA TO ACQUIRE ONE OR TWO ENTERTAINMENT GIANTS

July 24, 2014 by · Leave a Comment 

China’s Dalian Wanda Group, which purchased the AMC theater chain for $2.6 billion in 2012, is planning to "intensify" its entertainment investments overseas before the end of the year, it said in prepared remarks in Harbin on July 12 that were disclosed on Wednesday. Wanda Chairman Wang Jialin told a company meeting that the company plans to acquire "one or two large international entertainment companies" and is currently involved in takeover negotiations. Chinese government officials have acknowledged that they are encouraging their biggest companies to "go global." News of the company’s plans was first reported by the Hollywood Reporter.