Wanda signs movie deal with Sony

DAYS after meeting with Gold Coast Mayor Tom Tate to discuss plans for a Gold Coast theme park, Wanda Group has formed a partnership to make big-budget movies with Sony.

Dalian Wanda Group’s latest move into the global film industry will see the Chinese conglomerate invest in Sony productions and “strive to highlight the China element in the films in which it invests”.

The largest cinema operator in the world, Wanda is owned by China’s richest man, billionaire Wang Jianlin, who financed this year’s best picture Oscar-winner, Spotlight.

The company already owns AMC Theatres, which recently bought European cinema chain Odeon & UCI Cinemas Group, and acquired Legendary Entertainment for $3.5 billion in January.

China is now home to the world’s second biggest box office after the US but restricts foreign film releases to 34 a year. Wanda will help Sony market its releases to Chinese audiences.