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Wanda's Film Unit Sold to China Ruyi Holdings
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Wanda's billionaire founder Wang Jianlin is selling Wanda Film Holding Co. to China Ruyi Holdings Ltd. due to debt repayment pressure, marking the end of Wang's ambitions to rival Walt Disney Co. Wanda Film operates over 800 movie theaters and Australian cinema chain Hoyts Group, with investments in successful Chinese films. Despite challenges from China's economic slowdown and property market crisis, Wanda Film reported a profit of 692 million yuan for the third quarter, attributed to experience-led spending amid an uncertain economic outlook.
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How might the sale of Wanda Film Holding Co. to China Ruyi Holdings Ltd. impact the competitive landscape of the film industry in China?
In what ways does the sale of Wanda Film Holding Co. reflect broader trends in China's economic landscape?
What strategies could Wang Jianlin employ to rebuild Wanda's reputation and future prospects?
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