Xiaoshu 175 Posted September 28, 2016 Share Posted September 28, 2016 Talks between Wanda and Dick Clark Productions are latest in a flurry by Chinese groups in Hollywood The conglomerate led by China’s richest man is in talks to buy the US studio that stages the Golden Globe Awards and Miss America pageant for a reported $1bn, the latest in a flurry of moves by Chinese companies to snap up Hollywood assets. Eldridge Industries, owner of Dick Clark Productions, said on Tuesday that it had agreed to enter into “exclusive talks†with Wanda Culture Industry — a unit of the Wanda conglomerate — “with the shared goal of finalising a mutually satisfactory transactionâ€. The production company founded by television personality Dick Clark in 1957 remains a mainstay of Hollywood’s self-promotion, staging the Golden Globes andAmerican Music Awards. Both are popular among Chinese audiences. The Chinese push into Hollywood is led by Wang Jianlin, the country’s richest man and founder of Wanda Group, already the world’s largest cinema owner-operator. Mr Wang is building a global cinematic giant by snapping up global assets on both the production and screening end of the global film industry. While Chinese entertainment companies covet the prestige and expertise of established studios in the US, cosy relations with Beijing bring Hollywood access to China’s burgeoning audiences of newly-affluent consumers. Should the deal go through, Dick Clark Productions would allow Wanda new access to TV production. However, US Republicans have voiced concerns over China’s incursion into America’s film industry, with 16 lawmakers — led by congressman Chris Smith — this month calling for greater scrutiny of Chinese investment in the industry. Wanda began its global expansion in film distribution with the 2012 purchase of US cinema chain AMC, while a drive towards production followed with a controlling stake in Legendary Pictures, producer of Godzilla and Jurassic World movies in January this year. Once solely a property conglomerate in the Chinese coastal city of Dalian, Wanda has inked a deal with Sony Pictures Entertainment to distribute films over the company’s domestic cinema network, soon to be expanded to include 150 IMAX screens in the next six years. Legendary Entertainment’s ties to Wanda gave the company access to data on the Chinese market that allows it to target films to the Chinese consumer using advanced ticket sales and other metrics to target fans likely to enjoy a particular film. Such techniques helped Warcraft, a film adaptation of computer game “World of Warcraftâ€, to account for an unprecedented 74 per cent of the Chinese box-office sales in its opening weekend, despite sluggish sales elsewhere. Even Wanda’s core business of construction has taken an entertainment twist in recent years, with Wang Jianlin’s decision to build theme parks across the country in a move to take on Walt Disney, which recently opened its first Chinese mainland theme park,Shanghai Disneyland. The potential sale of Dick Clark Productions is part of Eldridge Industries’ review of its media holdings announced last month, the company said. Reuters reported that the price tag for Dick Clark Productions was $1bn, citing an unnamed source. The company was purchased by investment group Guggenheim Partners for $380m in 2012. Wanda declined to comment on the talks. by: Christian Shepherd in Beijing https://www.ft.com/content/0ba13440-8481-11e6-8897-2359a58ac7a5 Link to comment Share on other sites More sharing options...
MelanatedBeauty 13,663 Posted September 28, 2016 Share Posted September 28, 2016 im crying china in't playing Link to comment Share on other sites More sharing options...
PsychoLotus 1,546 Posted September 28, 2016 Share Posted September 28, 2016 "mainstay of Hollywood’s self-promotion, staging the Golden Globes andAmerican Music Awards. Both are popular among Chinese audiences." I didn't know China watched American award shows...but I'm surprise an American company would just let a studio go like that...China planning for world domination Link to comment Share on other sites More sharing options...
Haus of Tzu:Lai 5,450 Posted September 28, 2016 Share Posted September 28, 2016 Why can't they buy over MISS UNIVERSE, so we would have more Asian winners/representation? I'm so bored with the usual Latina winner. Link to comment Share on other sites More sharing options...
Zenist 490 Posted September 28, 2016 Share Posted September 28, 2016 "mainstay of Hollywood’s self-promotion, staging the Golden Globes andAmerican Music Awards. Both are popular among Chinese audiences." I didn't know China watched American award shows...but I'm surprise an American company would just let a studio go like that...China planning for world domination There are probably more Chinese watching Oscars than Americans. Link to comment Share on other sites More sharing options...
waycrispy1 3,434 Posted September 28, 2016 Share Posted September 28, 2016 He already owns more than half the movie theaters in America, and Legendary and are in talks with Sony Pictures Link to comment Share on other sites More sharing options...
singermelodie1 1,638 Posted September 28, 2016 Share Posted September 28, 2016 Why can't they buy over MISS UNIVERSE, so we would have more Asian winners/representation? I'm so bored with the usual Latina winner. many Asians have won before (mainly Philippines) Link to comment Share on other sites More sharing options...
Carrot Cake 1,291 Posted September 28, 2016 Share Posted September 28, 2016 . Link to comment Share on other sites More sharing options...
Zenist 490 Posted September 28, 2016 Share Posted September 28, 2016 He should kick krishantao from the industry Why would he do that? They are the new generation of C-pop Heavenly Kings. It use to be Andy Lau, Aaron Kwok, Leon Lai, Jacky Cheung -> Show Luo, Jay Chou, JJ Lin, Wang Leehom -> Kris Wu, Luhan, Tao, Yixing. Link to comment Share on other sites More sharing options...
Eye 23 Posted September 28, 2016 Share Posted September 28, 2016 he should spend his money on something better like buying red velvet albums to donate to poor families in china Link to comment Share on other sites More sharing options...
Xiaoshu 175 Posted September 28, 2016 Author Share Posted September 28, 2016 he should spend his money on something better like buying red velvet albums to donate to poor families in china I think he will do that after he buys everything in America. Link to comment Share on other sites More sharing options...
ePit 773 Posted September 28, 2016 Share Posted September 28, 2016 doesnt his son own t-ara, exid, and former miss member jia Link to comment Share on other sites More sharing options...
nightmare 318 Posted September 28, 2016 Share Posted September 28, 2016 doesnt his son own t-ara, exid, and former miss member jia yes. Link to comment Share on other sites More sharing options...
yukheiswift 238 Posted October 4, 2016 Share Posted October 4, 2016 many Asians have won before (mainly Philippines) and not to be shady but Philippines' beauty is mostly latina Link to comment Share on other sites More sharing options...
Trixbox 2,982 Posted October 4, 2016 Share Posted October 4, 2016 and not to be shady but Philippines' beauty is mostly latina Well they are a former colony of Spain.. so there are really many Latin looking people there. Link to comment Share on other sites More sharing options...
Recommended Posts
Archived
This topic is now archived and is closed to further replies.