on January 13, 2017 in World News
What If China’s Money Stream Stops Flowing to Hollywood?
Beijing begins monitoring “irrational” investments in entertainment companies (even while Alibaba pledges $7.2 billion) as one deal falls apart and all eyes focus on Trump. Chinese companies poured record amounts of capital into Hollywood in 2016 — a trend eagerly embraced by the U.S. film industry. Among the deals: Dalian Wanda Group acquired Legendary Entertainment for $3.5 billion and Dick Clark Productions for $1 billion; Alibaba made a major investment in Steven Spielberg’s Amblin Entertainment; and Beijing-based Perfect World Pictures put $500 million into 50 films from Universal. But tighter regulatory scrutiny and rising protectionism in the U.S. and China… View Article
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