BEIJING — China’s Dalian Wanda Group has added another entertainment trophy to its stable of overseas acquisitions, paying $1 billion U.S. for Dick Clark Productions, the TV company that produces the Golden Globes and the Miss America pageant. Wanda is one of China’s most important conglomerates and China’s largest property developer. Its chairman, Wang Jianlin, is China’s richest man by most measures, with an estimated net worth exceeding $32 billion. Diversifying away from China’s weakening property market, Wanda Group has made entertainment a major focus of its growth in recent years. It has openly embraced a mission to fend off Western imports in the Chinese market and become a globally recognized Chinese entertainment brand.

Source: thestar November 04, 2016 15:46 UTC