Chinese conglomerate to buy stake in Hollywood studio: reports

Chinese powerhouse Dalian Wanda is reportedly in talks to buy a controlling stake in US film studio Legendary, providing the Communist Party-linked company with a key anchor in Hollywood. The media and property group controlled by China's richest man Wang Jianlin is in advanced stages to buy the studio behind blockbusters "Godzilla" and "Pacific Rim", according to reports Tuesday in the New York Times and Financial Times newspapers. The FT said Legendary Entertainment studios was valued at approximately $3 billion to $4 billion, according to people familiar with the matter.

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