Chinese Wanda intends to buy half of Paramount Pictures
China's Wanda Group continues its foray into the entertainment industry in North America. According to the Wall Street Journal, his next "prey" may be the movie studio Paramount Pictures, 50 percent of which Wanda intends to acquire from Viacom corporation. The amount of the deal is estimated by analysts at four to five billion dollars, since the market value of the movie studio ranges from eight to ten billion dollars. However, a protracted conflict between the light of Viacom directors and the majority owner of Viacom, Sumner Redstone, could become an obstacle to the conclusion of the contract. Let us remind you that Wanda Group is intensively developing the American and European markets. Earlier, the Chinese conglomerate acquired one of the largest American cinema chains AMC for several billion dollars, and in mid-July 2016 became the owner of the largest European network Odeon. Other large Chinese companies are also striving to get their share in the entertainment industry in North America. For example, one of the largest trading platforms in the world, Alibaba, is involved in financing many promising Hollywood movie projects. The Topic of Article: Chinese Wanda intends to buy half of Paramount Pictures. |
