Chineseconglomerate Dalian Wanda GroupCorp. Ltd. has held preliminary discussions about acquiring ,according to a Sept. 26 story by TheHollywood Reporter, citing sources familiar with the matter.
The deal would reportedly value the TV production company at$1 billion.
DCP specializes in live TV events including the Golden GlobeAwards, American Music Awards and Billboard Music Awards, and also produces thereality competition show "So You Think You Can Dance."
A spokesperson for DCP owner Eldridge Industries confirmed toThe Hollywood Reporter that Wandasubsidiary Beijing Wanda Culture Industry Group Co. Ltd. agreed to startexclusive talks with the California-based production firm. A representative forWanda would not comment.
This development comes after Wanda Chairman Wang Jianlinrevealed that heexpects to complete two film-related Hollywood deals this year that are worthmore than $1 billion each.
Wanda also bought U.S.-based media company Legendary Entertainmentfor $3.5 billion earlier this year.