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Wednesday, 13 January 2016

And another mogul - from the same country

Wang Jianlin, China's richest man has been reported to acquire a controlling stake in Legendary Entertainment, one of the large Hollywood studios responsible for the recent movie hits Godzilla and Jurassic World. The FT article reporting the transaction talks of a $3.5 billion deal, the biggest ever in China, in film. Mr Wang's conglomerate, the Wanda group is quite diversified with a large enough media chunk that includes content creation packaging and distribution (Wanda also owns AMC Theater chain in the US, and has important sport assets among others). And his ambitions will probably not end with this latest deal. Clearly, Mr. Jianlin wants to be well-positioned to take advantage of the fastest growing media market in the world. According to a recent Economist article he is at the right place.