U.S. Government Agency Will Review Dalian Wanda, Chinese Investment in Hollywood ... Eventually

The Government Accountability Office has accepted a request from members of Congress to review the Committee on Foreign Investment in the United States and determine whether its legal powers have kept pace with the influx of international buyers targeting American companies — particularly the fire hose of Chinese investment in Hollywood.

In a letter dated Sept. 30, GAO managing director Katherine Siggerud wrote that the request from 16 members of Congress was within the scope of the agency’s authority, and it expects to initiate the process in about four months, when qualified staff will be available.

Rep. Robert Pittenger headed a group of 16 members of Congress who wrote an initial letter to the GAO on Sept. 15 asking the body — Congress’ investigative arm — “to determine whether its statutory and administrative authorities have effectively kept pace with the growing scope of foreign acquisitions in strategically important sectors in the U.S.”

Also Read: 5 Potential Pitfalls in Wanda's Quest to Dominate Global Entertainment

The letter singled out Chinese Dalian Wanda Group’s acquisition of Legendary Entertainment and aborted pursuit of Paramount Pictures, as well as its ownership of AMC Theaters and in-process acquisition of Carmike Cinemas as concerning, due to “China’s efforts to censor topics and exert propaganda controls on American media.”

One question the lawmakers urged the GAO to answer in their letter was “Should the definition of national security be broadened to address concerns about propaganda and control of the media and “soft power” institutions?”

Wanda founder and CEO Wang Jianlin — China’s richest man — has been outspoken about his desire to use entertainment to promote Chinese values abroad, exercising the kind of “soft power” that U.S. studios have successfully used for years. Last month, Wanda formed a strategic alliance with Sony, which the company said it would use to “strive to highlight the China element in the films in which it invests” in a statement. The company is also in talks to acquire Dick Clark Productions for $1 billion.

Also Read: China's Wanda Group in Talks to Buy Dick Clark Productions

Wang’s ambition and wallet have clearly got the attention of Hollywood chiefs — and now, Washington.

Hollywood's 22 Biggest Box Office Champs in China (Photos)

Chinese moviegoers love to spend their hard-earned yuan on Hollywood blockbusters like "Captain America: Civil War," "Avatar" and "Star Wars: The Force Awakens." Comedies and dramas? Not so much. Read on to see which American hits have raked in the most money (according to BoxOfficeMojo) in that nation across the Pacific.
Disney/Marvel/Lucasfilm/Fox
"Furious 7" (2015)

$390.9 million

The Vin Diesel and Dwayne Johnson revved-up action flick is easily the highest-grossing Hollywood movie ever in China. The late Paul Walker remains among China's most beloved American actors.
Universal
"Transformers: Age of Extinction" (2014)

$320 million

Mark Wahlberg starred in the sci-fi movie based on the foldable toys, which was co-produced by two Chinese firms and was the first Hollywood movie to make more than $300 million in the Middle Kingdom.
Paramount
"Avengers: Age of Ultron" (2015)

$240.1 million

The superhero mashup is China's highest-grossing Marvel Cinematic Universe film, a franchise that's been embraced by the country's young-leaning moviegoers.
Marvel
"Zootopia" (2016)

$235.6 million

The buddy-cop comedy is the highest-grossing imported animated film in the history of the Chinese box office, and it played especially well in China's second- and third-tier cities.
Disney
"Jurassic World" (2015)

$228.7 million

Like "Furious 7," the dinosaur sci-fi adventure was produced by Legendary Entertainment, which was acquired by China's Dalian Wanda Group in January.
Universal
"Warcraft" (2016)

$220.8 million

Another Legendary film, this one inspired by a video game series, flopped in the U.S. but dominated the Chinese market, which is home to about half of the video game's players worldwide.
Universal
"Avatar" (2009)

$204.1 million

The worldwide smash hit also captivated Chinese audiences, even back in 2009, when the country's box office was a fraction of the size that it is today.
Fox
"Captain America: Civil War" (2016)

$190.4 million

The latest film in the Marvel Cinematic Universe -- with an ensemble cast that includes Robert Downey Jr., Chris Evans, Scarlett Johansson and Don Cheadle -- continued the iconic comic book company's momentum in China.
Marvel
"Transformers: Dark of the Moon" (2011)

$165.1 million

The prequel to this film, 2009's "Transformers: Revenge of the Fallen," made $65.8 million in China, setting the stage for "Dark of the Moon" to be the country's highest-grossing Hollywood film since "Avatar" at the time.
Paramount
"Kung Fu Panda 3" (2016)

$154.3 million

The Mandarin-language version of the movie starring Jack Black as a friendly fighting bear had the characters reanimated so their mouths moved naturally with the translated words.
DreamWorks
"The Jungle Book" (2016)

$150.1 million

The live-action/animation hybrid was a hit in several international markets, especially India, and it also played well throughout China.
Disney
"Mission: Impossible - Rogue Nation" (2015)

$135.7 million

China's Alibaba Pictures invested in "Rogue Nation," and star Tom Cruise visited several Chinese cities to promote the film, helping it open strong and stick around in theaters even though its China debut came more than a month after its U.S. premiere.
Paramount
"Star Wars: The Force Awakens" (2016)

$124.2 million

Despite China being one of the few markets that didn't catch "Star Wars" fever -- the movie put some people there to sleep -- Disney's promotional efforts helped it clear $100 million.
Lucasfilm
"Interstellar" (2014)

$122 million

The epic space adventure starring Matthew McConaughey, Anne Hathaway and Jessica Chastain connected with Chinese audiences, even though it wasn't in the 3D format that crowds there have grown used to.

Paramount
"The Hobbit: The Battle of the Five Armies" (2014)

$121.7 million

The third and final installment in Peter Jackson's "Hobbit" series was another movie that succeeded even though it was released in China well after its U.S. premiere.
Warner Bros.
"Iron Man 3" (2013)

$121.2 million

All three movies in the Robert Downey Jr. franchise have played in China, helping build brand awareness beyond just the bankable Marvel name.
Marvel
"X-Men: Apocalypse" (2016)

$12o.8 million

Disney bought Marvel Entertainment in 2009, but Fox acquired the film rights to Marvel's "X-Men" franchise before then. It doesn't seem to matter much in China, where anything Marvel often turns into a big hit.
Fox
"Captain America: The Winter Soldier" (2014)

$115.6 million

The predecessor to this year's "Civil War," "Winter Soldier" was a hit despite its fairly political content, which is usually a negative in Chinese theaters.
Marvel
"Terminator Genisys" (2015)

$113.2 million

The fifth "Terminator" film was the franchise's lowest-grossing since the 1984 original, but it was the first in the series to get a Chinese theatrical release.
Paramount
"Pacific Rim" (2013)

$111.9 million

The futuristic sci-fi adventure, in which humans battle sea monsters, is yet another fantasy action movie that Chinese audiences loved.
Warner Bros.
"Ant-Man" (2015)

$105.4 million

Yet another Marvel Cinematic Universe movie, "Ant-Man" made just $180.2 million at the domestic box office but was a much bigger hit in China.
Marvel
"San Andreas" (2015)

$103.2 million

China knows Dwayne Johnson from the "Fast and Furious" franchise, and the earthquake disaster film he headlined last year reverberated at the Chinese box office.
Warner Bros.

1 of 23

Chinese moviegoers can’t get enough of America’s big-budget action flicks

Chinese moviegoers love to spend their hard-earned yuan on Hollywood blockbusters like "Captain America: Civil War," "Avatar" and "Star Wars: The Force Awakens." Comedies and dramas? Not so much. Read on to see which American hits have raked in the most money (according to BoxOfficeMojo) in that nation across the Pacific.

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Hollywood's 22 Biggest Box Office Champs in China (Photos)

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