China’s Wanda buys Legendary Entertainment for $3.5 billion – Yahoo Finance

Posted: January 12, 2016 in Fantasy, Horror, Movies, Scifi
Tags: , , , , , , ,

Over the holidays, things were getting bleak with Pacific Rim 2 because nothing was happening. There was news about Guillermo Del Toro making a series for Netflix, ok great. Next I heard he was going to be doing a remake of The Fantastic Voyage. This got me worried because prior to this, Pacific Rim 2 was not dead according to Del Torro and the hold up was the budget. Of course, the sequel film would have to be done with lesser money but that was ok because internationally, Pacific Rim did extremely well overseas. The movie overall did $400 million but of that $100 million was domestic. This barely covered the cost of making the film in the first place. Still, when Godzilla came out afterwards, this helped the idea that Pacific Rim 2 could still be a viable option for the studio. That is until Crimson Peak came and went despite Del Torro directing this movie. $55 million to make it and just half was made back in sales but that means nothing when you factor the marketing cost. Pacific Rim 2 was moved off the calendar and that was that.

Flash forward to this deal, The Wanda Group bought Legendary for the reason their movies work better overseas. Does this mean Pacific Rim 2 is back in play? It just might be the saving grace we need for a sequel. Granted, the idea of future Pacific Rim sequels was possibly to tie in with Godzilla. However, the more realistic tie in with Godzilla would be with King Kong. Still, weather we get Godzilla fighting Jaegers or not, I just want to see more Pacific Rim stories. Yes, the breach is closed but anything can happen and nothing lasts forever. Fingers cross on the Wanda Group to make this happen.

BEIJING (AP) — Wanda Group said Tuesday it is buying Hollywood’s Legendary Entertainment, the maker of films such as “Batman,” for $3.5 billion in the first Chinese acquisition of a major U.S. film company.

Wanda, whose chairman, Wang Jianlin, is one of China’s richest businesspeople, has expanded rapidly into the film industry. It bought the U.S. cinema chain AMC in 2012 and is developing an $8 billion studio complex in eastern China.

Source: China’s Wanda buys Legendary Entertainment for $3.5 billion – Yahoo Finance


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