King Kong has returned as the giant ape with a tender heart in Kong: Skull Island, a revival of the old Hollywood franchise that hit number one at the US box office last weekend. It is a relief for Legendary Entertainment, the film’s producer, and Legendary’s owner Dalian Wanda, the Chinese property conglomerate.
Wanda needs some good news after the failure on Friday of its $1bn deal to acquire Dick Clark Productions, the US television group behind the Golden Globes and other award shows. It does not want to turn into another classic Hollywood character: the foreign investor with stars in its eyes that attempts to muscle its way into La La Land and ends up being fleeced.
There are dual risks for the Chinese companies that have lined up recently to pump money into Hollywood, including a copper processing company from Anhui province that fancied breaking into the movies. Not only could they be humiliated in US entertainment, but they could hurt their business at home by alienating Beijing.