Chinese conglomerate to buy stake in Hollywood studio: reports

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Wang Jianlin, chairman of property giant Wanda Group

 

Chinese powerhouse Dalian Wanda is reportedly in talks to buy a controlling stake in US film studio Legendary, providing the Communist Party-linked company with a key anchor in Hollywood.

The media and property group controlled by China’s richest man Wang Jianlin is in advanced stages to buy the studio behind blockbusters “Godzilla” and “Pacific Rim”, according to reports Tuesday in the New York Times and Financial Times newspapers. Continue reading

Wanda may open three theme parks in US, says Wang Jianlin

Chinese real estate tycoon Wang Jianlin said Saturday that his Dalian Wanda Group will compete with Disneyland and may open theme parks in the United States in the future.

Wang, founder and president of the group, one of China’s top property developers, revealed his ambition at the opening ceremony of a movie park in Wuhan, capital of Hubei province in central China. Continue reading

The Asian oligarchs you’ve never heard of who bought up London – and knocked the Duke of Westminster off No1

The Duke of Westminster has been knocked off his perch after more than a decade as the richest investor in UK property.

He’s taken the top spot in the Estates Gazette Rich List since it began in 2002, comfortably surpassing billionaires such as the pharmaceuticals scion Ernesto Bertarelli and the Swiss-based investors and private equity players, David and Simon Reuben.

Notice anything about this list? Like the two Chinese men that came out of nowhere to occupy first and second place? Neither of them appeared in the top 250 UK property investors last year. The third Chinese member of the top 10, Joseph Lau, is £550m richer than he was last year. But the wealth of the top 250 is so much greater – up 60% on 2012 – that he has fallen three places. Continue reading