Chinese Company Dalian Wanda Group Acquires Majority Stake in Godzilla's Legendary Entertainment

posted on 2016-01-09 09:45 EST

Entertainment news website Deadline reported on Monday that Chinese company Dalian Wanda Group has purchased a majority stake in Legendary Entertainment. According to Deadline, Dalian Wanda Group valued Legendary Entertainment at US$3-4 billion. Legendary Pictures produced Godzilla and Pacific Rim, and is producing the upcoming Godzilla vs. King Kong crossover film.

Dalian Wanda Group previously purchased AMC Entertainment Holdings for US$2.6 billion in 2012.

Legendary licensed the Godzilla film rights, and produced Gareth Edwards' 2014 Godzilla film, which opened in the United States in May 2014, and earned over US$500 million worldwide. The Godzilla 2 sequel film is slated for June 8, 2018. Legendary Pictures and Warner Bros' Godzilla vs. King Kong is slated for a 2020 release.

Deadline also reported that Japan's SoftBank company and investment firm Waddell & Reed Inc. have both agreed to sell their stakes in Legendary Entertainment.

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