Legendary Is in Talks to Buy Wanda’s Stake in ‘Dune’ Studio
- Wanda acquired Legendary for about $3.5 billion in 2016
- An announcement could come as soon as in coming days
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Legendary Entertainment LLC is in advanced talks to buy out Dalian Wanda Group Co.’s stake in the movie studio, people familiar with the matter said, as the Chinese conglomerate looks to unwind one of its most high-profile overseas acquisitions.
Legendary is looking to fund the potential transaction with its own financial resources, the people said, asking not to be identified as the information is private. Legendary and Apollo Global Management Inc. are poised to take control of the company after the potential deal, the people said. An announcement could come as soon as in the coming days, they said.