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Online celebrities with selfie sticks at Wanda Plaza in Jinnan, capital of East China’s Shandong province, July 16, 2016. [Photo/VCG] |
Wanda Group Co shelved a $5.6 billion reorganization of its entertainment assets, but analysts on Tuesday said the company is still on the right track of restructuring its business to be an “asset-light” model.
Wanda Cinema Line Co said in a statement on Monday it had suspended a previously announced major asset restructuring, saying the plan was premature and that market conditions had changed.
In May, Wanda Cinema Line said it would buy Legendary Entertainment and Chinese film-making assets from the parent group for 37.2 billion yuan ($5.6 billion).
According to the latest statement, the deal w…
Read the full article at: http://www.chinadaily.com.cn/business/2016-08/03/content_26322526.htm
