Chinese Company Dalian Wanda Group Acquires Majority Stake in Godzilla's Legendary Entertainment
posted on by Jabulani Blyden
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.