Chinese entertainment conglomerate the Dalian Wanda Group Co. plans to sign two billion-dollar film deals in the United States this year, and is targeting one of the “Big Six” movie studios next.
Chairman Wang Jianlin told Reuters on Tuesday about the acquisitions of two unnamed non-production film companies, each worth more than $1 billion, in the pipeline, and why Wanda Group is making the massive investment.
“My goal is to buy Hollywood companies and bring their technology and capability to China,” Jianlin said, but declined to name the companies.
He also didn’t disclose any hints at what studio Wanda is eyeballing, though the Wanda held discussions with Viacom last month about acquiring its stake in Paramount Pictures.