Dalian Wanda And Sony Pictures Enter Into Multi-Picture Alliance

(RTTNews) - Billionaire Wang Jianlin's Dalian Wanda Group and Sony Pictures Entertainment Motion Picture Group announced that they will enter into a strategic alliance that will include equity co-financing in some cases, comprising a number of Sony Pictures' upcoming high-profile tentpole releases in China.

Wanda said it will provide its massive consumer-facing infrastructure in China to bolster Sony Pictures' commitment to broaden its global presence. The mutually beneficial deal also furthers Wanda's cross-cultural support of the global feature film industry.

Following the acquisition of AMC and Legendary Entertainment in the US, Hoyts in Australia, and contracts to purchase Odeon & UCI in Europe, Wanda said it continues to identify mutually beneficial opportunities to work with major Hollywood studios to further its position as a worldwide entertainment leader. The deal will utilize Wanda's extensive digital and physical infrastructure, including Wanda Cinema Line - Asia's largest cinema owner - as well as Wanda's 100+ entertainment plazas, its growing theme park business, and its leading electronic movie ticketing platform.

Wanda recently announced a significant exhibition deal with IMAX, which will see the construction of 150 additional IMAX theatres in China.

Sony Pictures' films in China are distributed by the China Film Group and Huaxia.