Feb 20 Chinese conglomerate and cinema chain
operator Dalian Wanda’s proposed $1 billion purchase of Dick
Clark Productions Inc has fallen apart, online entertainment
news website The Wrap reported on Monday, citing unnamed
Wanda, run by China's richest man, Wang Jianlin, said in
early November that it would buy all of Dick Clark Productions,
the company that runs the Golden Globe awards and Miss America
The deal collapsed over problems getting currency out of
China and regulatory approval from the Chinese government, The
Wanda already owns Legendary Entertainment, co-producer of
film hits such as "Jurassic World," and U.S. cinema chain AMC
Entertainment Holdings Inc (AMC.N). It also has business ties
with Sony Pictures and Sony Corp's (6758.T) film unit in China.
The Dick Clark takeover had raised concerns among some U.S.
lawmakers about China's influence in Hollywood and the impact it
might have on U.S. media, although Jianlin had said his interest
in the company stemmed from business and not politics.
Dick Clark Productions and Dalian Wanda were not immediately
available for comment. Dick Clark's owner, media investment
holding company Eldridge Industries, was also not immediately
available for comment.
(Reporting by Diptendu Lahiri in Bengaluru; Editing by Tom