Interview with Yiannis Exarchos: to narrate Olympic story in new ways and promote positive values
01 Jul 2024 14:40
Dalian Wanda Group, the Chinese property-to-entertainment conglomerate masterminded by Asia’s richest man Wang Jianlin, has said it is planning five “substantial” acquisitions in the sports and entertainment sectors this year.
The Bloomberg news agency stated that Wanda chairman Wang Jianlin said at a briefing in Hong Kong yesterday (Tuesday) that the group’s pursuit of targets will focus on companies in the entertainment and sports industries, without naming any particular firms.
Earlier, Wanda said it is seeking to complete three overseas and two domestic purchases , excluding cinema chains.
Wang’s declarations come after a busy 2015 for the Wanda Sports Holdings division. In November, Wanda closed a deal to acquire the World Triathlon Corporation (WTC), the parent company of the Ironman triathlon series.
The $650m (€601.9m) deal for WTC was first announced in August and further strengthened Wanda’s position within the global sports industry. Earlier in 2015, the conglomerate invested significantly in the Infront Sports & Media agency and Spanish LaLiga football club Atlético de Madrid.
Wanda Group convened its 2015 annual meeting on Saturday, where Wang reported on its performance in 2015 and announced the targets for 2016. Wanda Sports Holdings annual revenue reached RMB5.87bn (€831.8m/$898.5m), exceeding targets by 132.7 per cent. Wanda Sports Holdings is targeting revenue of RMB7bn in 2016.
Source: Sportbusiness
Proofread by John Devlin
Interview with Yiannis Exarchos: to narrate Olympic story in new ways and promote positive values
01 Jul 2024 14:40
Related coverage
Culturecom to purchase Super Sports
12 May 2016
Borussia Dortmund launch onlineshops in Asia
19 Jul 2016
Repucom EVP Mike Wragg: One of important things for China is the commercialization of sport
15 Jul 2016
Fosun International to acquire Wolves?
20 Jul 2016
Ali Sports links up with Germany’s Wige Media
25 Feb 2016
More from Yutang Sports
The United States Tops Skema Publika's First Annual Sport and Soft Power Ranking
27 Mar 2025
Interview with Andreas Zagklis: to keep popularization of basketball with all-round strategy
08 Jul 2024
SPORTACCORD 2024 INSIGHTS: Paris 2024 here we come!
02 Jul 2024
Expert insight | New changes on UEFA EUROs: growing maturity of Hisense and other Chinese brands
22 Jul 2024
Interview with Thomas Lund: to follow new trends and bring younger generations to the sport
17 Jun 2024
Yutang Sports
loading...