China investors set their sights on Hollywood• www.ft.com
A consortium led by Chinese media entrepreneur Bruno Wu is scouring Hollywood for film companies to acquire, in a sign of China’s growing interest in the US entertainment industry.
The consortium lost out to Lions Gate Entertainment, the independent film studio which this month agreed to acquire Summit for $413m.
“This is the closest Chinese investors have come so far to buying into a major Hollywood brand,” said one person close to the Chinese bidders. “It would have been a huge thing for the Chinese film industry.”