Wanda Unveils Studio Rebates, Says Lions Gate to Use Qingdao
- Chinese group to offer more than $150 million in rebates
- Conglomerate will provide discounts of 40 percent for studio
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Billionaire Wang Jianlin’s Dalian Wanda Group Co. unveiled subsidies worth more than $150 million a year to lure film makers to his new studio complex in China’s coastal city of Qingdao.
Wanda, the flagship of Wang’s entertainment, real estate and finance conglomerate, will provide as much as a 40 percent rebate for some production costs at Qingdao Oriental Movie Metropolis, Senior Vice President Jack Gao said Monday in Los Angeles. Companies including Lions Gate Entertainment Corp., Arclight Films and Wanda’s own Legendary Entertainment have agreed to use the Qingdao facility, Wanda said.