China's Dalian Wanda In Talks To Buy Stake In Lions Gate: Reports

(RTTNews) - China's Dalian Wanda Group Co. is reportedly in talks to buy a stake in Lions Gate Entertainment Corp. (LGF), the U.S. film studio behind "Hunger Games."

The Beijing-based company is interested in purchasing a controlling stake in the U.S film studio, however, Lions Gate's owners are only willing to sell a minority stake, Bloomberg News reported citing an interview with Wanda's Chairman Wang Jianlin.

According to the report, talks between the company are at a nascent stage and may or may not reach a deal. Wanda is also potentially looking to invest in Metro-Goldwyn-Mayer Inc., Bloomberg reported.

Chinese conglomerate Dalian Wanda Group is the second-biggest U.S. cinema chain. Wanda had bought U.S. cinema-theater operator AMC Theatres in 2012 for about $2.6 billion. According to the Bloomberg report, Wanda is shifting its focus toward culture, entertainment and e-commerce.

In August, Wanda had announced plans to invest $1.2 billion to set up an office in Beverly Hills, California.

LGF is currently trading at $35.11, up $1.21 or 3.57%, on the NYSE.