Dick Clark Productions Ends Sale To Chinese Billionaire
(Undated) — The Bandstand won’t be going Chinese. The owner of Dick Clark Productions has ended talks on a one-billion-dollar sale to China’s Wanda Group. Eldridge Industries says it terminated the deal after Dalian Wanda Group “failed to honor its contractual obligations.” Dick Clark Productions is the producer of the Golden Globes, American Music Awards and the Billboard Music Awards. The deal would have marked the Chinese firms first entry into television. It was originally expected to close last month. Wanda is controlled by China’s richest man. It declined to comment Monday on the collapse of the deal.
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