Dalian Wanda is acquiring a stake of over 50% in film studio Legendary Entertainment at a valuation of up to $4bn, allowing SoftBank and Waddell & Reid to exit.
Property conglomerate Dalian Wanda has agreed to acquire a majority stake in US-based film studio and comic book producer Legendary Entertainment, Reuters reported yesterday, citing a person familiar with the matter.
Although the source did not disclose the amount Wanda is investing, they revealed it will own just over half of Legendary, which will be valued at between $3bn and $4bn. Telecommunications firm SoftBank and investment firm Waddell & Reed will exit Legendary through the deal.
Launched in 2004, Legendary…
