Sumner Redstone

The $1-billion deal to sell Dick Clark Productions to China's Wanda Group is dead

The $1-billion deal to sell Dick Clark Productions to China's Wanda Group is dead

The highly publicized $1-billion deal to sell Dick Clark Productions to China’s Dalian Wanda Group has collapsed, marking one of the biggest of many deals between China and Hollywood to fall by the wayside.

Dick Clark Productions owner Eldridge Industries said Friday that it had called off the blockbuster agreement after Wanda, which announced plans to purchase the TV production company in November, failed to complete the sale.

The acquisition of Dick Clark Productions, which produces the “Golden Globe Awards,” “Academy of Country Music Awards,” and “Dick Clark’s New Year’s Rockin’ Eve With Ryan Seacrest,” would have been Wanda’s first foray into television, adding to its...

65°