China Dalian Wanda eyes Lionsgate, MGM

Dalian Wanda Group is discussing acquiring a minority stake in US independent studio Lionsgate.

The boss of the Chinese media firm, Wang Jianlin, said his company has also had negotiations about putting money into another US film and TV studio, MGM.

Speaking to Bloomberg TV, Jainlin said Dalian Wanda, which is the world’s largest cinema chain business and also operates shopping malls and luxury hotels in China, was only interested in taking controlling stakes in companies in which it invests.

Wang met Lionsgate chairman Mark Rachesky in October, according to Bloomberg. Dalian’s US assets include the movie theatres it acquired from AMC for US$2.6 billion in 2012.

“We are shifting our group’s focus toward culture, entertainment and e-commerce,” Wang told Bloomberg. “China’s movie industry is growing a lot faster than that of the US.”

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