China’s richest man wants to be next king in Hollywood’s

Flanked by models in white sequin
dresses, amid booming music and
dazzling lights, China’s richest man
savored his latest entertainment
triumph this week, the announcement
of a $3.5 billion deal to take over a
Hollywood blockbuster movie studio.Acquiring Legendary Entertainment

puts Wang Jianlin and his
conglomerate, the Dalian Wanda
Group, a step closer to the ultimate
goal: a movie empire underpinning a
globally recognized household name
to rival Google, Apple or Microsoft.
Under President Xi Jinping, China is
broadening its use of so-called soft
power, and — through skyscrapers,
soccer and movies — Wang, a former
People’s Liberation Army officer, is
on the front line.
“It’s entirely possible in the future
that we’ll hold an even bigger
ceremony, to announce we bought an
even bigger entertainment group,”
Wang told reporters this week.
Wang’s rise to prominence has
required a mix of political awareness
and commercial savvy.
The son of a Long March veteran, he
started his business life in the
northeastern city of Dalian, where his
company grew to become the
country’s largest property developer.
Wanda also is the world’s biggest
commercial properties developer,
with a Hong Kong-listed company
that controls 125 commercial
shopping malls, along with 81 hotels.
The group reported total revenue
increased 19 percent last year to $44
billion.
“Remain close to government, and
away from politics,” Wang, 61, told
Reuters News in a 2014 interview.
Deal with the authorities, he said,
referring to the Communist Party and
the government, “less with
individuals.”