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Hollywood gets caught up in Beijing's crackdown on overseas deals

US lawmakers also urge the government to slow the pace at which China firms are buying American media targets

Published Tue, Mar 14, 2017 · 09:50 PM
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Los Angeles

THE tide of Chinese money flowing into Hollywood is showing signs of receding.

In a reversal of last year, when Chinese companies' purchases climbed to a record, deals are headed for their lowest levels since the financial crisis. Some transactions are even collapsing. Dalian Wanda Group Co's US$1 billion acquisition of TV company Dick Clark Productions Inc was called off last week. A takeover of US$4.6 billion movie maker MGM Holdings Inc by Chinese buyers never even got off the ground.

In neither case did acquirers disclose what caused them to abandon their deals, bu…

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