DCP SALE IS DEAD: REPORT

The Chinese government has apparently put the kibosh on the Dalian Wanda Group’s $1 billion purchase of Dick Clark Productions, Variety reports.

Sources told Variety the deal is a casualty of the government’s “efforts to curb the flow of capital out of the country.”

The deal between Dalian Wanda and Todd Boehly’s Eldridge Industries was reached in November and a closing was expected in February. There have been hints for months that the deal was in danger of not closing.

The $1b price tag was considered extravagant by many in Hollywood, though the Chinese conglom saw it as a way into live event television in the U.S. DCP produces the Golden Globes, American Music Awards and ACM Awards among other live events.

If DCP remains in Boehly’s portfolio with Billboard and The Hollywood Reporter will he be looking for a new package deal? Would his rumored suitor Jay Penske want a road into television? Could the lack of a sale have a belt-tightening effect at the Bible? Stay tuned.