Wanda de­lays world’s big­gest movie stu­dio open­ing

The Pak Banker - - COMPANIES/BOSS -

Bil­lion­aire Wang Jian­lin's Dalian Wanda Group Co. is push­ing back by a year the open­ing of a 50-bil­lion-yuan ($ 7.6 bil­lion) en­ter­tain­ment com­plex that will house the world's big­gest movie stu­dio.

The Qing­dao Ori­en­tal Movie Metropolispark in east­ern China is now sched­uled to open in Au­gust 2018, Wanda said Thurs­day in an e- mailed re­sponse to Bloomberg queries, with­out ex­plain­ing the rea­son for the de­lay. The com­pany pre­vi­ously said the pro­ject would open to the pub­lic in April 2017.

For Wang, the pro­ject builds on his am­bi­tions to ex­pand his global en­ter­tain­ment em­pire, which al­ready in­cludes AMC En­ter­tain­ment Hold­ings Inc.'s cinema chain in the U.S. Ear­lier this month, Wanda an­nounced it would buy "Godzilla" pro­ducer Leg­endary En­ter­tain­ment for $3.5 bil­lion. The park it­self is poised to be mas­sive and goes be­yond mak­ing movies.

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