Sony Pictures, Wanda in China film tie-up

Global film powerhouse Sony Pictures Entertainment has partnered with Chinese property-to-movies group Dalian Wanda to co-invest in films as well as distribute across Wanda’s broad network of cinemas, the Financial Times reports. Wanda makes a point of embedding large, US-style cinemas as well as an anchor chain stores such as Walmart in its property developments across China. The move has given it an enviable role in blockbuster ticket sales in China and spurred its investment in overseas cinemas and a sprawling production studio in northern Shandong province. The latest deal, described as “a strategic alliance that will include equity co-financing in some cases” follows Wanda’s purchase of AMC, the US cinema chain, and Legendary Pictures, the producer of Godzilla and Warcraft .