Wanda Group

Since 2005, Chinese property developers like Dalian Wanda and Evergrande have made forays into "alternative, income-generating businesses away from the property market".[2] The Financial Times noted that Dalian Wanda was the "most aggressive" in pursuing this strategy, pointing to its 2012 acquisition of U.S. cinema chain AMC Theatres and 2013 purchase of British yachtmaker Sunseeker. It noted that it was also "building theme parks across China, and has a joint venture with Tencent and Baidu to set up an e-commerce platform".[13]

Dalian Wanda acquired the American cinema operator AMC Theatres in May 2012 for $2.6 billion, the largest Chinese acquisition of an American company to that date.[14] The acquisition went through successfully in August 2012, making Wanda Cinemas the world's largest cinema operator.[15] As of 2016, Wanda owns approximately 6% of all commercial movie screens in China, and about 13% in the U.S.[15] The company made major changes in AMC theater design and layout, including generously sized reclining seats, waiter service, and expanded food and drink offerings. Ticket sales at AMC nearly doubled in the 18 months following the acquisition, and by the end of 2014 Wanda had reaped a reported profit of about US$900 million.[15] AMC also co-owns Open Road Films and Fathom Events.

In June 2013, Dalian Wanda planned to invest $1.1 billion to develop a new five-star hotel in London next to the Thames River in Vauxhall, South London, as part of the Nine Elms regeneration.[2] Mayor of London Boris Johnson welcomed this move.[16] It is building "Western Europe’s tallest residential building".[11] Plans were scrapped in 2015,

In June 2013, Dalian Wanda acquired Sunseeker International, a British luxury yacht manufacturer used in the James Bond movies, for $500 million.[2] This acquisition gave them a 92% stake in the company.[16]

In January 2015, Dalian Wanda purchased an office building in Sydney, Australia, from Blackstone Group for around $327 million.[17] The company is "aggressively expanding overseas to move away from China's property market, which has been hit by a slowing economy".[13]

In June 2015, Wanda Cinemas announced that it had acquired Australian cinema chain Hoyts.[7] In Chile it was acquired by Cinépolis, in Uruguay by Life Cinemas, and in Argentina by Cinemark.

In November 2015, it was announced that a holding company, Wanda Film Holdings, will group all its film-related assets.[18]

Dalian Wanda developed a skyscraper in Chicago initially called Wanda Vista, designed by Chicago architect Jeanne Gang, which would become the city's third-tallest building and the tallest building in the world designed by a woman, passing Chicago's Aqua Tower (also designed by Jeanne Gang).[19]

On January 11, 2016, Wanda Group acquired the American film production and mass media company Legendary Entertainment for $3.5 billion. The acquisition of Legendary made Wanda Film Holdings the highest revenue-generating film production company in the world.[20]

In May 2016, Wanda Group acquired Propaganda GEM. The Entertainment Marketing and product placement agency becomes part of Wanda Group's focus on entertainment but also Hollywood content.[21]

Wanda Group also owns 20% of Mtime, a Chinese film website.[22]

In September 2016, Wanda announced a major partnership with Sony Pictures Entertainment, in which it will take minority investments in a number of upcoming releases. Sony stated that Wanda planned to "highlight the China element in the films in which it invests". The deal came in the wake of Wanda's failed bid to acquire a stake in Paramount Pictures.[23][24]

In November 2016, Wanda announced it would buy the television production company Dick Clark Productions for around $1 billion.[25] However, the deal fell through, with Bloomberg citing increasing regulation of Chinese investments both domestically and in the United States, and Deadline.com citing financial struggles in Wanda's real estate business.[26][27]

In May 2017, Wanda announced it would invest $3.3B by 2024 in EuropaCity, a mega-project near Paris' Charles de Gaulle airport that will boast a theme park, attractions, cultural exhibitions, retail shops, outdoor sports venues and restaurants over about 200 acres. It's Wanda's biggest-ever single project in Europe. Its other offshore real estate interests include a major development on the banks of London's River Thames and plans for an industrial park in India at a $10B investment.[28]

In July 2017, Wanda launched the grand opening of Danzhai Wanda Village, a $200 million tourism project help alleviate Wanda's poverty.

In July 2017 it was reported that the group was selling a number of theme parks and hotels for $9.3 billion to Chinese property developer Sunac.[29]

In August, Wanda invested $2.14 billion in health care industry and launched the Healthcare Group. Wanda cooperates with International Hospital Group.[30]

August 9, 2017, Wanda Group announced acquisitions of Wanda Culture Travel Innovation Group and Wanda Hotel Management Co. in a major restructuring. In a filing posted on the Hong Kong Stock Exchange, Wanda Hotel Development said it will acquire Wanda Travel for RMB6.3 billion, paid either in cash, the issue of shares and/or convertible bonds, with share prices determined by the company's closing price on Aug. 8 at HK$1.16 per share. Wanda Hotel Development will acquire Wanda Hotel Management for a cash price of RMB750 million.[31]

In September 2017, Wanda made a foray into the high technology industry when it launched its accelerator project. The final 15 high technology startups have been selected for the first Wanda Accelerator project, in order to take full advantage of Wanda's resources, introducing imaginative technology goods and services, and fostering scientific and technological innovation.[32]

On September 28, 2017, S&P downgraded Dalian Wanda Commercial Properties to BB.[33]

In 2017, Wanda earned around 49% of its revenue from Dalian Wanda Commercial Properties Co. 28% or $10.85 billion, of total revenue was contributed by Wanda's cultural unit, including movie theaters, sports and film-production.[34]

On January 29, Tencent, Suning, JD.com, and Sunac signed strategic investment agreements with Wanda Commercial, with plans to invest about RMB 34 billion to acquire Wanda Commercial's 14% equity interest.[35]

On February 5, Wanda Group signed a strategic investment agreement with Alibaba Group and Cultural Investment Holdings. The 2 parties will invest 7.8 billion yuan for Wanda Film Holding's 12.77% stake. Of which, Alibaba invests 4.68 billion yuan and CIS invests 3.12 billion yuan, becoming the second and third largest shareholders after the transaction. Wanda Group remains the controlling shareholder with 48.09% of shares in Wanda Film.[36]

In 2018, on April 28, the Qingdao Movie Metropolis, a nearly RMB 50 billion industrial investment project, was completed after four years and seven months of construction. The Qingdao Movie Metropolis covers a land area of 166 hectares. According to plans, its production zone will have 52 high-tech studios, including 30 completed in the first phase and 10 under construction in the second phase, including the world's largest studio measuring 10,000 sq. m., the world's only integrated outdoor and indoor underwater studio, a comprehensive costumes and props workshop, and a world-leading post-production workshop, among others.

In May 2018, Wanda, Tencent and Gaopeng launch Internet technology company to build “new consumption” model. The three parties will launch an Internet technology joint venture (JV) to build a world-class new consumption model that will integrate both online and offline businesses. Among the three companies, the breakdown of the JV's shareholdings is as follows: Wanda Group's Wanda Commercial Management Group (51%), Tencent (42.48%), and Gaopeng (6.52%).[37]

In December 2014, Dalian Wanda Commercial Properties, the group's property division, raised $3.7 billion in an initial public offering on the Hong Kong Stock Exchange,[38] the "most money a real estate company has raised in the public markets".[11] The IPO made founder Wang Jianlin worth more than $25 billion, making him one of China's richest men.[5]

In 2016, the group sought to privatize Dalian Wanda Commercial Properties less than 18 months after the unit's listing on the stock exchange.[39] Standard & Poor was concerned that the move would weaken Wanda Commercial's transparency.[39]

On January 20, 2015, it was reported that Wang Jianlin was buying a 20% stake in the La Liga club Atlético Madrid.[40] The purchase was finalised March 31, 2015, when the company Wanda Madrid Investment, a subsidiary of Dalian Wanda Group, officially become a partial owner of Atlético Madrid after gaining control of 726,707 shares, representing a 20% ownership stake. The purchase price was €44,983,163.30, or €61.90 per share.[41] The Group sold 17% of its stake to Israeli businessman Idan Ofer on 14 February 2018 for an undisclosed amount.[42]

In February 2015, Dalian Wanda won an auction to purchase Infront Sports & Media, a sports marketing company based in Zug, Switzerland, for $1.2 billion.[43][44] Infront distributes broadcasting rights for some of the world's biggest sporting events; for example, it has the exclusive sales rights to broadcast FIFA's events from 2015 to 2022, including the 2018 and 2022 World Cups. According to Wang Jianlin, "the acquisition is expected to help boost sports in China and increase Wanda’s influence in global sports".[45]

Wanda Plaza in Wuhan, Hubei

In August 2015, Dalian Wanda has acquired World Triathlon Corporation, an American sports promotion company promoting and licensing various triathlon competitions including the Ironman, for $650 million.[46]

In November 2015, it was announced that a sports division will include all sports-related assets.[18]

In March 2016, FIFA announced that Wanda would be a major sponsor for international events until 2030. In September of the same year, Wanda Group announced a media and sponsorship deal with Badminton World Federation through its subsidiary, Infront Sports & Media.[47]

In June 2017 it purchased Competitor Group (operator of the Rock 'n' Roll Marathon Series).[48] Also that year they purchased the naming rights for the Estadio de la Comunidad de Madrid, home of association football club Atlético Madrid, which was renamed the Wanda Metropolitano.

In late February 2018, Wanda Group took control of Chinese Super League team Dalian Professional, though the decision was not officially announced.[49] Wanda also signed Yannick Carrasco and Nicolas Gaitan from Atlético Madrid right after selling the club's shares.[50]

Wanda Group was also one the organizer/sponsor of the Tour of Guangxi.