China’s Richest Man Buys ‘Godzilla’ Maker for $3.5B

Billionaire Wang Jianlin is poised to become the first Chinese person to control a Hollywood film company after Asia’s richest man agreed to buy the co-producer of “Jurassic World” for as much as $3.5 billion in cash.

Wang-controlled Dalian Wanda Group Co.'s purchase of Burbank, Calif.-based Legendary Entertainment marks China’s largest overseas “cultural acquisition,” according to a joint statement. It also paves the way for the creation of the world’s biggest film company by revenue, Wang said in the statement.

The producer of the “Dark Knight” Batman trilogy and “Godzilla” paves the way for China to broaden its influence over ...