Legendary’s Wanda Takeover Clears US Regulatory Approval

The $3.5 billion deal to give Chinese conglomerate Dalian Wanda Group a majority stake in Thomas Tull’s Legendary production company was approved by the U.S. Commerce Department Tuesday.

The acquisition still faces scrutiny by China’s National Development and Reform Commission and the country’s Ministry of Commerce.

Wanda’s giant play for Legendary, the biggest Chinese investment in a U.S. media company yet, is the latest move tying Hollywood to the world’s most populous...

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