The Chinese media conglomerate is in talks to buy a controlling stake in the American company that runs the Golden Globes and other major award shows. Fred Katayama reports.
The reach of this Chinese media mogul may soon extend to your living room. Wang Jianlin's conglomerate, Dalian Wanda, already reaches Americans through its AMC theaters, and it's now in talks to buy a controlling stake in Dick Clark Productions. That's the TV production company that runs award shows ranging from the Miss America beauty pageants to the star-studded Golden Globe awards. Wang, China's richest man, is on a shopping spree. He owns "Jurassic World" co-producer Legendary Entertainment, and he was trying to buy a stake in Paramount Pictures until owner Viacom decided last week not to sell it. Reuters correspondent Liana Baker: SOUNDBITE: LIANA BAKER, CORRESPONDENT, REUTERS, (ENGLISH) SAYING: "Right now, they're just in acquisition mode, trying to acquire as much as they can before there's any sort of limit set on how much you can buy. You may know that regulators sometimes look at whether movie studios can own movie theaters. So that's one issue. so I think he just wants to buy kind of as much as he can try to get more movies into China from the States." He's currently trying to buy theater operator, Carmike Cinemas. The latest development comes just days after Wanda announced it was partnering with Sony Pictures to market the Hollywood studio's movies in China. It's all part of Wang's quest to transform his property and cinema company into a global entertainment giant. He has even expressed interest in the so-called "big six" Hollywood studios.