China’s Wanda Acquires Legendary Pictures

Dalian Wanda Group Co., Ltd. announced today at a signing ceremony in Beijing that it has acquired Legendary Entertainment for no more than $3.5 billion in cash – making it China’s largest cross-border cultural acquisition to date.

Legendary is a major film production company that owns film, television, digital and comics divisions. Originally setup at Warners, they have since moved to Universal Pictures. Thomas Tull will remain as Chairman and CEO of Legendary and will continue to be responsible for its day-to-day operations and will significantly participate in the success of the company with Wanda.

Legendary’s film productions have grossed more than $12 billion worldwide at the box office and have included the likes of Chris Nolan’s Batman trilogy and “The Hangover” films, “Jurassic World,” “Man of Steel,” “Godzilla,” “300,” “Watchment,” “The Hangover,” “Inception,” “Crimson Peak,” “Interstellar,” “Unbroken,” “Clash of the Titans,” “Dracula Untold” and “Pacific Rim”. They’ve also got “Warcraft,” “The Great Wall” and “Kong: Skull Island” on the way.

Tull said in a statement: “I am honored to be a part of the Wanda family. Together, Wanda and Legendary will create a completely new international entertainment company. There is an ever growing demand for quality entertainment content worldwide, particularly in China, and we will combine our respective strengths to bring an even better entertainment experience to the world’s audiences.”

Source: Legendary Entertainment