China’s Richest Man invests in Hollywood

11 Oct
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Wang Jianlin, China’s richest man, is doing everything in his power to incorporate Chinese traditions, worldviews, culture, and business practices into the Hollywood vocabulary. Fresh off purchasing a majority stake in Legendary Entertainment, the LA based film studio, Jianlin has decided to further invest in another studio, Sony Pictures Entertainment. The 61-year old billionaire has stated his ultimate goal is to purchase all of Hollywood’s “big-six” studios through “aggressive acquisitions.”

With hopes of featuring “the China Element” into a greater number of Hollywood big-budget studio productions, Jianlin readily signed a deal with Sony Pictures through his own company, The Dalian Wanda Group.

Sony Pictures Entertainment can expect expect a significantly larger distribution and promotion platform in China and the US, as Jianlin also owns AMC Cinemas, a global chain of movie theaters. For Jianlin and Wanda, it’s an additional boost of Chinese influence in the worldwide film and entertainment industry, as well as a direct deal between a major studio, marketing group, and retail cinema chain.

The agreement will have Chinese conglomerate The Dalian Wanda Group marketing Sony Pictures’ films and co-financing some of its upcoming movie releases in China. The partnership will also further forward Wang’s goal of making his company an international entertainment powerhouse.

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