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
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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.
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