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China’s Wanda Buys Dick Clark Productions for $1 Billion

Chinese conglomerate Wanda Group announced Friday that it has acquired Dick Clark Productions (DCP), an American TV production company, for $1 billion. DCP owns the television rights to the Golden Globe Awards, the American Music Awards, the Miss America pageant, the New Year’s Eve countdown in New York City’s Times Square and many other programs. “The acquisition of DCP marks Wanda’s first step into television content, occupying the highest-end global TV program resources from...

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