Wanda’s Purchase of Legendary Entertainment is the Largest Cross Border Acquisition
Dalian Wanda Group announced that it has recently acquired US Legendary Entertainment for $3.5 billion making it the largest cross border cultural acquisition in China to date.. Thomas Tull still remains as the Chairman and CEO of Legendary and continues to be responsible for its daily operations.
Legendary is one of the leading film production company that owns, television, films, digital films and comics divisions, and has already delivered several global blockbusters such as the Batman trilogy, Inception, Jurassic World, Hangover, Pacific Rim, Man of Steel and more. The acquisition of Legendary makes Wanda Film holdings Company the highest revenue generating film company in the world and has also increase Wanda’s presence in China and in the US. Wanda’s businesses encompass the full scope of film production, exhibition and distribution and at the same time enhance core competitiveness in the global film market.
According to Thomas Tull, that together Wanda and Legendary will create a new international entertainment company in the ever growing demand for quality entertainment content worldwide especially in Chine as they combine their strength in bringing better entertainment experiences to its audiences. After the acquisition, Wanda will be assisting Legendary in increasing its market opportunities especially in the fast growing Chinese market, which will enable Legendary to speed up its growth. Wanda Group will then start integrating production and release assets and go public as soon as possible, but whether which capital market Wanda will choose is still being considered.
Aside from the US and China, Wanda is looking into the European market especially in England, France and Germany. Although European assets is expensive the company is taking their time and is waiting for the perfect timing to purchase.