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China's Wanda talks stake in Lions Gate

Shanghai Daily, December 2, 2014 Adjust font size:

Chinese conglomerate Dalian Wanda Group Co, one of the biggest theater operators in the United States, is in talks to buy a stake in US film studio Lions Gate Entertainment Corp, Bloomberg News said Monday.

Discussions between Lions Gate and Wanda are "at an early stage and may not lead to a deal," Bloomberg reported, citing an interview with Wanda's Chairman Wang Jianlin.

Wang's comments are the latest sign of the firm's interest in making further inroads into the US film industry. It comes three days after Wanda Cinema Line Co, a movie theater company controlled by Wang, received approval for a share offering in China in which it hopes to raise up to 2 billion yuan (US$326 million).

Wang, who Forbes magazine says is China's fourth-richest man, said the owners of Lions Gate "have only been willing to sell a minority stake," according to Bloomberg.

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