HONG KONG, Nov. 4, 2016 /PRNewswire/ -- Asia-based Puji Capital, a boutique investment company focused on China cross-border investments and M&A in the media, entertainment, and consumer sectors, worked closely with Wanda to co-invest and secure dick clark productions. The acquisition is subject to legal and regulatory conditions and is the latest strategic move in Wanda's long-term strategy in a global entertainment platform between China and the rest of the world.
Puji's deep relationships with the biggest Chinese and Hollywood media and entertainment companies has given Puji a strong expertise and insight into the industry trends. "This is a very exciting cooperation and opportunity for Wanda to acquire dick clark productions – and is a testament to our firm's support of Wanda's vision to innovate and bridge Chinese and global media entertainment," said Alex Szeto, Director of Puji. "Chairman Wang (Wanda) is already one of the biggest names in China and Hollywood as is Peter Guber (dick clark productions). Joining these two forces together will only accelerate future growth plans and vision for the business. We have spent over two years crafting the strategy and purpose for joining these two entities together and now we could not be more excited to be part of this new innovation of media and entertainment."
Dick clark productions is the world's largest producer and proprietor of televised live event entertainment programming. The company has a nearly 60 year history and has played an integral role in defining American culture and history as one of the entertainment industry's biggest brands and is responsible for big-scale award shows and TV programs including the "Golden Globe Awards," "Billboard Music Awards," and "American Music Awards." Today, the company is led by industry veteran Peter Guber along with a top executive team including Allen Shapiro and Michael Mahan.
"We are thrilled to make this strategic investment into dick clark productions," said Xiaoma Lu, CEO of Wanda Investment Company, who represented and led the transaction on behalf of Wanda. "Wanda has a long-term and steadfast vision to build a global media and entertainment ecosystem. dick clark productions, with its reputation and deep roots in US television, will play a significant role in that equation to bridge US and China by developing the 'must-see' entertainment programming that appeals to a global audience."
Industry veteran and dick clark productions Chairman, Peter Guber says, "I would like to congratulate Chairman Wang and Wanda on this new partnership and acquisition of dick clark productions. This is an exciting new era for China, Hollywood, and the entire entertainment industry as a whole. I look forward and am thrilled to continue my friendship and business partnership with Chairman Wang on this new venture."
According to Puji, China is just entering into the "Golden Age" of media and entertainment. With the advent of technology connecting audiences worldwide coupled with a fast-growing Chinese middle-income consumer market, future investments into and from China will continue to increase. Szeto states that Hollywood will continue to be the prominent leader in innovating content creation just as China will continue to be the world's largest consumer market. He further explains that a closer relationship and more cross-border partnerships and business between Hollywood and China will only benefit the global media and entertainment industry by providing a platform for the most advanced technologies and innovation with distribution to the largest-scale international audience.
