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Wanda makes deal to co-finance, promote Sony films in China

As expected, Dalian Wanda Group Corp. Ltd. struck a deal withSony Pictures Entertainmentthat will see the Chinese conglomerate co-financing upcoming releases fromSony Corp.'s filmunit in China, according to a Sept. 23 company statement.

The agreement is Wanda's first multipicture alliance with amajor Hollywood studio. Financial details were not disclosed.

Under the deal, Wanda will also leverage its electronicmovie ticketing platform, cinema chain, entertainment plazas and theme parks inChina to promote Sony films to local audiences.