China's Wanda, Sony Pictures in Talks for Film Alliance
The giant Chinese conglomerate would help promote a handful of Sony films in the Middle Kingdom, including 'Spider-Man: Homecoming.'
Chinese giant Dalian Wanda Group and Sony are in advanced talks to strike a major marketing partnership.
Wanda would team with Sony on a handful of films, including Spider-Man: Homecoming, which is set to open in theaters July 7, 2017. Sources stress the deal isn't done, however.
Wanda, the largest theater owner in China, among other things, would use its vast footprint to help promote Sony's movies in the Middle Kingdom, which has fast become the world's second-largest box office.
Wanda may also make a small investment in the titles, although not in Spider-Man, sources tell The Hollywood Reporter.
Having a Chinese partner can be invaluable. Paramount and Wanda have partnered on the release of several films in China, including Transformers: Age of Extinction and Teenage Mutant Ninja Turtles: Out of the Shadows.
Wanda Cinema Line and Movie Media also came aboard TMNT 2 as co-financiers, marking the first time that Wanda Cinema Line has invested in a Hollywood film as a worldwide investor. Wanda Cinema Line is the movie theater subsidiary of Wanda, which is controlled by Wang Jialin, China's richest man.
Sony and Wanda declined to comment.