China's Dalian Wanda buys Ironman triathlon brand for $650M

Chinese property and cinema giant Dalian Wanda Group said Thursday that it is buying the company that owns the Ironman triathlon brand and race series as it forecasts explosive demand in China for the sport. Wanda is paying $650 million for Tampa, Fla.-based World Triathlon Corp., which it called "a jewel in the crown of world endurance sports," the company said in a statement. The deal to buy World Triathlon, which operates 250 events a year, "will bring a top international competition to China for the first time," it said. Triathlons, which combine swimming, biking and running, have grown in popularity and are now an Olympic event. More people in China are paying...