NEW YORK (AP) - China’s Dalian Wanda Group is in talks to buy Dick Clark Productions, the TV company that produces the Golden Globes and the “Miss America” pageant.
The deal could be worth $1 billion, according to The Wall Street Journal, citing unnamed sources with knowledge of the situation. Wanda did not return a request for comment.
Eldridge Group, which owns Dick Clark Productions, said in a statement that the TV company agreed to enter into exclusive talks with Wanda. If the deal gets finalized, it would be the latest U.S. entertainment deal for the Chinese company which owns property, cinema and sports holdings. In September it said it would partner with Sony Pictures to make big-budget movies. It owns AMC Theaters and bought Legendary Entertainment for $3.5 billion in January.
Dick Clark Productions was sold in 2012 to a group including investment firm Guggenheim Partners. Last year Guggenheim sold Dick Clark Productions to Eldridge Industries, which is controlled by Todd Boehly, a former president of Guggenheim and current member of Guggenheim’s executive council.
Guggenheim said last month it was conducting a strategic review of its media holdings.
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