Legendary Entertainment has been sold to the chinese media company Dalian Wanda Group Co., Ltd. for $3.5 billion and allows co-founder Thomas Tull to remain onboard as Chairman and CEO and he had this to say:
“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.”
With the film catalog at Legendary Pictures it includes works from Zack Snyder and Christopher Nolan such as Man of Steel, The Batman trilogy, 300, inception including Pacific Rim and this past summer’s hit Jurassic World. Legendary is set to release Warcraft based on the popular World of Warcraft video game franchise, which could make Wanda Film Holdings Company a pretty penny. When it comes to the acquisition the Wanda group had this to say:
“The acquisition of Legendary will make Wanda Film Holdings Company the highest revenue-generating film company in the world, increasing Wanda’s presence in China and the US, the world’s two largest markets,” said Wanda Group’s Chairman Wang Jianlin. “Wanda’s businesses will encompass the full scope of film production, exhibition and distribution, enhancing Wanda’s core competitiveness and amplifying our voice in the global film market.”
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