Dalian Wanda to buy controlling stake in Legendary Entertainment

Real estate conglomerate Dalian Wanda Group will acquire a controlling stake in US movie studio Legendary Entertainment in a deal worth US$3-4 billion to be announced as soon as next week, The Hollywood Reporter reported, citing unnamed sources.  Wanda will own just over half of Legendary; studio founder and CEO Thomas Tull and key management will own smaller stakes. The latter are expected to remain in charge of the company’s operations. The deal marks another big step in Wanda Chairman Wang Jianlin’s push to become a global entertainment giant after acquiring AMC Entertainment, America’s second-largest cinema chain, for US$2.6 billion in August 2012.