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Exclusive: China's richest man set to seal two billion-dollar U.S. film deals

Wang Jianlin, chairman of the Wanda Group, poses for pictures after an interview in Beijing, China, August 23, 2016.

Real estate and entertainment conglomerate Dalian Wanda Group Co expects to seal two billion-dollar film-related deals in the United States this year, chairman Wang Jianlin said on Tuesday, as China's richest man steps up his push into Hollywood.

After completing the acquisition of two non-production film companies - each worth above $1 billion - Dalian Wanda's next target would be a so-called "Big Six" movie studio, Wang told Reuters in an exclusive interview.

"My goal is to buy Hollywood companies and bring their technology and capability to China," Wang said.

He declined to elaborate on the two deals in the pipeline, which would further bolster Wanda's motion picture empire.

In January, Wang splashed $3.5 billion to buy a controlling stake in U.S. film studio Legendary Entertainment, behind hits such as "Jurassic World", making Wanda the first Chinese firm to own a major Hollywood studio.

Dalian Wanda, which was added to the Fortune Global 500 list this year, aims to triple revenue from its cultural division, led by entertainment, sports and tourism, to 150 billion yuan ($22.6 billion) by 2020.

Reuters reported last month that Wanda has held talks with Viacom Inc (VIAB.O) about acquiring its stake in Paramount Pictures, one of Hollywood's "Big Six" studios that also include Twentieth Century Fox (FOXA.O), Warner Brothers (TWX.N), Walt Disney (DIS.N)...


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