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China's Wanda Sells Cinema Chain Stake to Alibaba

February 05,2018 14:47

Billionaire Wang Jianlin's Dalian Wanda Group is selling shares worth 7.8 billion yuan ($1.2 billion) in his Chinese movie-theater chain to Alibaba Group Holding Ltd. and a firm partly backed by the government as he seeks to pay down debt at his ...and more »


Billionaire Wang Jianlin’s Dalian Wanda Group is selling shares worth 7.8 billion yuan ($1.2 billion) in his Chinese movie-theater chain to Alibaba Group Holding Ltd. and a firm partly backed by the government as he seeks to pay down debt at his flagship company.
Wanda Film owns and operates about 500 theaters and 4,000 screens on the mainland. The investment could open the door to future partnerships between Alibaba and Wanda’s other showbiz units, such as Hollywood production company Legendary Entertainment, and may expand...

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