Wanda Faces Hurdles in Closing Dick Clark Prods. Deal (EXCLUSIVE)

As an update from an earlier post, we see Donald Trump stepping in to save what little American industry remains.

For additional information on the Chinese invasion and infiltration of Hollywood, see the following previous posts:

Paramount Gets China Infusion: $1 Billion, 3-Year Slate Co-Financing Deal With Shanghai Film Group & Huahua Media

Chinese conglomerate to buy stake in Hollywood studio: reports

China Invading Hollywood

 

Sources close to the situation still expect Wanda to close the acquisition sometime in February, and say that the only speed bump has been that some details are still being worked out. With the Chinese New Year holiday beginning on Saturday, work is expected to be halted for at least the next week.

One person said that work on the deal also came to a standstill a few weeks ago, amid concerns that the nationalistic focus of the new Trump administration might mean greater scrutiny to big investments in the U.S. by Wanda, Alibaba and the new breed of Sino mega conglomerates. The Dick Clark Prods. transaction was only the most recent mega-acquisition for Wanda, which also bought Legendary Entertainment for $3.5 billion last year and AMC Theaters for $2.6 billion in 2012. Wanda’s buying spree has caught the attention of members of both parties in Congress, who worry that they could mark a strategic extension of Chinese “soft power.” Continue reading

China Invading Hollywood

They’ve bought oil companies in Texas. They’ve had plans to build a self-sufficient city near Boise, ID, and another in Milan, MI. They already make the microchips, processors and other electronics in many computers used by the general public, business, government and even the military. The latest purchase of AMC will more than likely render the company as a propaganda outlet pumping pro-China rhetoric into naive soft heads. Red Dawn, the remake was even put on hold in order not to offend the “sensitivities” of Red China’s leadership as the latest invaders weren’t the Soviets, but their PLA counterparts. The invading army was eventually switched to the North Koreans. It is still yet to be finalized and released.

…and China will continue invading every facet in American life so long as we have a weak administration in the White House.

China continued its expansion into the entertainment industry Sunday when the Wanda Group, a Chinese media conglomerate, agreed to acquire AMC Entertainment, North America’s second-largest movie theater owner, in a $2.6 billion deal.

The New York Timesreports:

The acquisition creates the world’s largest theater group, the companies said. It also represents a significant expansion of Chinese influence in the American film industry. The industry has been looking to China for a vast new reservoir of ticket buyers for Hollywood movies, while joining Chinese investors to produce films like the planned “Iron Man 3” and teaming up to build studio facilities and a new Disney theme park in China.

Wang Jianlin, chairman and president of Wanda, said his goal was to own theaters covering 20 percent of the world theater market by 2020. Speaking through a translator on Sunday, Mr. Wang said his aim for the circuits was to “combine, and synergize and make them profitable.”

Sunday’s announcement is the second major deal this year between the North American entertainment industry and China. In February, DreamWorks Animation struck a $2 billion deal to open a studio in Shanghai under the Oriental DreamWorks brand.

Full article: China Invading Hollywood (Washington Free Beacon)