Lions Gate Entertainment Corp (LGF.B)

[starbuxsux]

Dalian Wanda Group Held Talks With Lions Gate

Dec 01, 2014 10:56:00 (ET)

By Laurie Burkitt
BEIJING--Dalian Wanda Group Co., which controls the second-biggest U.S. cinema chain, has held talks to acquire a stake in U.S. film studio Lions Gate Entertainment Corp., according to a person familiar with the Chinese company's discussions.

Executives at Lions Gate, the Santa Monica, Calif., film studio behind such movies as "The Hunger Games," and Wanda have met on several occasions, the person said. A number of conditions remain to be met before any deal is completed, the person said, without offering details.

Lions Gate officials couldn't immediately be reached for comment.

Wanda has been approached by multiple Hollywood film studios in the past year, the person said, adding that many of the discussions have centered on film collaborations, not only stake acquisitions.

Closely held Wanda bought U.S. movie-theater chain AMC in 2012 and also owns British yacht maker Sunseeker. Wanda Chief Executive Wang Jianlin is one of China's richest men.

Earlier on Monday, citing an interview with Mr. Wang, Bloomberg News said Wanda is in talks to acquire a stake in Lions Gate, though its owners have been willing to sell only a minority stake.

Wanda has been building up its profit in recent years. It is now China's largest operator of cinemas and is attempting to build a Chinese version of Hollywood in the coastal city of Qingdao. It broke ground last year on the project, flying in stars like Nicole Kidman and Leonardo DiCaprio for the announcement.

The Chinese company said in August it plans to invest $1.2 billion to set up an office in Beverly Hills, Calif.

Write to Laurie Burkitt at [e-mail]


Access Investor Kit for Lions Gate Entertainment Corp.

Visit http://www.companyspotlight.com/partner?cp_code=P479&isin=CA5359192039

Subscribe to WSJ: http://online.wsj.com?mod=djnwires

(END) Dow Jones Newswires

December 01, 2014 10:56 ET (15:56 GMT)


Copyright (c) 2014 Dow Jones & Company, Inc.