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Billionaire Wang in Talks to Buy Producer of Golden Globe Awards

Anousha Sakoui
Updated

(Bloomberg) -- Billionaire Wang Jianlin’s Dalian Wanda Group Co. is in talks to buy Dick Clark Productions, the closely held producer of the Golden Globe Awards, as the Chinese tycoon seeks to expand his influence in Hollywood.

Eldridge Industries, which owns Dick Clark Productions, said in an e-mailed statement on Monday that it’s holding exclusive talks with Wanda. Though Eldridge and Wanda declined to comment on the price, the Hollywood Reporter reported that the talks are valuing the production company at about $1 billion.

An agreement would give China’s second-richest man control over a company that produces various awards programs besides the Golden Globes, as well as TV shows such as "So You Think You Can Dance." It would be the latest addition Wang’s growing entertainment empire, which includes "Pacific Rim" co-producer Legendary Entertainment and cinema chain AMC Entertainment Holdings Inc.

Eldridge is led by Todd Boehly, former president of Guggenheim Capital, whose media assets also include Billboard and the Hollywood Reporter. If Dick Clark Productions is sold, it would be the 59-year-old production company’s third sale since 2007.

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Wanda’s AMC is also seeking to buy Carmike Cinemas, which would create the biggest movie-theater operator in the U.S. Wanda is already the biggest operator worldwide.

--With assistance from Jeanne Yang To contact the reporter on this story: Anousha Sakoui in Los Angeles at asakoui@bloomberg.net. To contact the editors responsible for this story: Crayton Harrison at tharrison5@bloomberg.net, Young-Sam Cho, Dave McCombs

©2016 Bloomberg L.P.