Wang Jianlin, the Chinese property and entertainment tycoon, and his company, Dalian Wanda Group, have bought the United States film studio behind the Batman movies and Godzilla, Legendary Entertainment, for $3.5bn.
I think it's a very good acquisition for Legendary and Wang Jianlin and Wanda because they are very complementary.
China is fast overtaking the US as the biggest movie marketplace on earth, and Wanda's acquisition is the biggest move yet by a Chinese company into the US entertainment industry.
Wanda is building what it says will be the world's largest film and TV studio complex in China, and recently bought major movie theatre chains in the US and Australia.
Wanda's big move reflects not only the company's global ambitions but China's desire to exercise soft power though entertainment and culture.
Wang has said that his goal is to take a dominant role in global media, controlling 20 percent of the world's film market by 2020.
So what will be China's role in the global movies and entertainment industry?
Source: Al Jazeera