Saturday, October 1, 2016

China's Richest Man Buying Hollywood a piece at a time

There is a very large and tangled web of media production and delivery -- and Microvision can take all the small screens and make them big ones. 

Do not doubt the power of that ability.

Wall Street Journal   Much More at Source

Wang Jianlin is buying Hollywood, one piece at a time.

China’s richest man has gone on a shopping spree aimed at positioning his Dalian Wanda Group in every stage of the entertainment life cycle: cinemas, movie production, TV, marketing and more.
Other Chinese tycoons have invested in Hollywood, but Mr. Wang’s interests go far beyond buying access to glitzy premieres and lavish after-parties. After making a fortune in property development, Mr. Wang has publicly stated that he is on a mission to make China a dominant global force in entertainment.

The aggressive deal making is starting to draw attention from U.S. government officials and industry executives, who see both Mr. Wang and China as threats to Hollywood’s dominance in entertainment as a business and a cultural force.

Producers and writers say studios are already nixing plot points in their big-budget films that might offend Chinese sensibilities, by, for example, avoiding topics such as homosexuality or the undead. They are increasingly looking to cast Chinese actors in supporting roles to broaden appeal—and win one of the 34 slots China’s government keeps open for foreign theatrical releases.

In September, Sony Pictures Entertainment struck a marketing pact with Wanda’s film subsidiary that gives Wanda the opportunity to take equity stakes in some Sony films. The move was widely seen as Sony’s play to win better access to Chinese consumers and Wanda’s chance to use its big real-estate footprint to have a stronger hand in marketing movies playing in its Chinese theaters. The companies called the deal a “strategic alliance.”

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