Wanda in talks with Viacom to buy Paramount

Chinese real estate and entertainment conglomerate Dalian Wanda Group has held talks with Viacom Inc about acquiring a minority stake in its Paramount Pictures unit, according to Reuters. Wanda’s interest adds new urgency to deliberations over Paramount’s future, which has become the flashpoint of a bitter row between Viacom Chief Executive Philippe Dauman and the company’s controlling shareholder Sumner Redstone. Wanda, which bought production company Legendary Entertainment in January, has been trying to expand its U.S. movie business. Redstone has so far opposed the sale, which is not possible without his consent. Other parties besides Wanda have also expressed an interest in Paramount, and there is no certainty any deal will be reached, the people said this week.