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|Wang Jianlin St. Louis Cardinals T-Shirts , chairman of Dalian Wanda Group, speaks at a news conference in Beijing on Tuesday
Chinese conglomerate Dalian Wanda Group has bought U.S. film studio Legendary Entertainment for about $3.5 billion, turning its chairman into a Hollywood movie mogul as China's richest man steps up a drive to diversify his business empire overseas.
Wanda confirmed the deal at a news conference in Beijing on Tuesday, where chairman Wang Jianlin said he plans to package Legendary, producer of hits like "Jurassic World", with his company's existing movie production assets in China and sell shares in the merged operation in an initial public offering.
The executive gave no further details on the IPO plan, but said was acquiring Legendary Entertainment for both intellectual property reasons and the studio's movies. A person familiar with the matter told Reuters earlier this month a deal had been agreed.
The deal - what Wanda said was its "largest culture acquisition overseas" - comes as Wang accelerates a drive to diversify a giant with 2015 revenue of $44 billion away from its core, but slowing domestic property operations. With deals to buy into everything from financial services to Spanish soccer club Atletico Madrid, Wanda said on Monday revenue rose 19 percent last year.
Dalian Wanda buys Hollywood studio Legendary Entertainment for $3.5 billion Dalian Wanda buys Hollywood studio Legendary Entertainment for $3.5 billion Wang Jianlin at today's press conference
Wanda is already the world's biggest movie theater operator, having bought AMC Entertainment Holdings Inc, North America's second-largest cinema chain, for $2.6 billion in 2012. It owns Australian movie theater company Hoyt's Group, and Wanda Cinema Line Corp, the group's domestically listed firm, is the biggest theater operator in China.
Under the deal announced on Tuesday, Wanda said it will buy an unspecified majority stake in Legendary. As part of the transaction, Legendary's founder and Chief Executive Officer Thomas Tull will continue to head up the movie maker.
Founded in 2000, Legendary has made hits such as "The Dark Knight" and "Man of Steel", as well as "The Hangover" film franchise.
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Legendary generally provides half the financing for movies whose budgets can run up to $200 million or more. It also has an agreement with China Film Co, the largest and most influential film company in China, to co-produce movies.
The number of road accidents connected with heavy-duty trucks has gone up over the past few years. Most of these trucks are not your typical pickup trucks but those giant 18-wheelers carrying big loads. Even though the reasons for these accidents are different, the majority is the fault of the driver of these massive trucks. The paradox is that often despite causing all these accidents, the truck driver never gets hurt because the huge trucks protect them from any harm.
A serious accident of this sort might consist of several small cars, injuries, and even the death of some other drivers. If you want to avoid those accidents, you must get extra lessons from your driving school. The unfortunate part is, in truck driving school, they are only trained how to drive fast, and completely ignore the concept of safe driving. You need to make an effort to study defensive driving on your own.
Lots of people think that driving a semi truck is as easy as driving a regular car. Though both a car and an 18-wheeler do the same things, they operate very differently. For one thing, a small car provides better maneuverability and requires less focus. You can just imagine the real difference by trying to park a truck as opposed to trying to park a car.
A great chunk of incidents are caused by truckers falling asleep at the wheel. While transport companies are required to present reasonable transport times, like three days for rides and distances up to 1500 kilometers, many drivers spend their time at home then try to do everything in one day. One day of driving is not so painless even for the most skilled driver, and it requires coffee, energizers and other methods to stay awake.
The more lucrative transport companies are actually installing GPS in the trucks in order to avoid these types of scenarios. In this way, the driver is obliged to drive only for 8 hours, he wonít be able to break the speed limit, and he will have to respect the rules of the road. Even if the expenses are higher in the short term, you will notice the advantages later. First, plenty of money might be saved from restoring a damaged truck. Plus, your clients will recognize your efforts to see that goods are sent in a safe and secure manner. Insurance providers are going to look at the company in a good light since GPS application will insure a safer environment. As a matter of fact, an insurance provider can offer an exceptional package with advanced services for your trucks.
There are some drivers who would certainly rather get the truck driverís license instead of a regular car license. While this is actually a bit unusual, it will happen. It is better to go for a normal driverís license, after that move your way up to a truck driverís license. By doing this, you will probably accommodate yourself with the driving methods, you will gain some skills, and you will be more effective while driving a large truck later.
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