China’s Wanda buys Dick Clark Productions for $1 billion

BEIJING, China – China’s Dalian Wanda Group has spent $1 billion to acquire Dick Clark Productions, the TV company that produces the “Miss America” pageant and the Golden Globe awards.

Wanda announced the deal in a statement Friday.

Wanda’s push into the U.S. entertainment industry has led to calls from some American lawmakers for greater scrutiny of Chinese investment amid concerns about creative freedom and the promotion of Chinese propaganda.

Wanda already owns AMC Theaters and bought Legendary Entertainment for $3.5 billion in January. It also announced a movie partnership in September with Sony Pictures.

The namesake company of legendary American television host Dick Clark was purchased in 2012 by a group including investment firm Guggenheim Partners. It owns several awards shows and the New Year’s Eve countdown show in New York.