Wanda in Hollywood: China's richest man buys film studio Legendary for $3.5b

Wanda in Hollywood: China's richest man buys film studio Legendary for $3.5b

Wang Jianlin, chairman of Dalian Wanda Group, gestures as he speaks ahead of a signing ceremony with Spanish soccer champions Atletico Madrid in Beijing, January 21, 2015. REUTERS/Jason Lee

Chinese conglomerate Dalian Wanda Group has bought U.S. film studio Legendary Entertainment for about $3.5 billion, turning its chairman into a Hollywood movie mogul as China’s richest man steps up a drive to diversify his business empire overseas.

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