LOS ANGELES (CBSLA.com) — One of Hollywood’s most prestigious awards shows will soon have a Chinese owner.

Under a deal announced Friday, Dalian Wanda Group will buy Santa Monica-based Dick Clark Productions for about $1 billion, giving it broadcasting rights to the Golden Globe Awards, the Academy of Country Music Awards and the New Year’s Eve countdown in New York.

The acquisition is the latest effort by Dalian Wanda to expand its entertainment footprint after the firm bought the AMC Entertainment theater chain for $2.6 billion in 2012 and took over Legendary Entertainment this year in a deal valued at $3.5 billion dollars.

According to the Los Angeles Times, Wanda is looking to purchase Carmike Cinemas through AMC after pursuing a purchase of 49 percent of Paramount Pictures. That deal was later scuttled by Viacom execs.

Read more at CBSLA.com.


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