万达快速布局娱乐业后的如意算盘

 　　Chalk up a win for Wanda Group. The unlisted Chinese conglomerate¹ will pay $3.5bn for Legendary² Entertainment, the US media company behind films including Jurassic World and The Dark Knight³. The deal will be Wanda’s largest to date, according to Dealogic.

　　万达集团(Wanda Group)赢了一个回合。这家未上市的中国企业集团将斥资35亿美元收购传奇娱乐(Legendary Entertainment)，这家美国媒体公司曾出品《侏罗纪世界》和《蝙蝠侠：黑暗骑士》等卖座的大片。Dealogic数据显示，这将是万达迄今最大的一笔交易。（上图为传奇娱乐投资的电影《侏罗纪世界》）

　　Wanda’s founder⁴ Wang Jianlin has acquired plenty of other overseas trophies⁵ in recent years, but this move makes strategic sense, too. China’s entertainment market is growing rapidly and is an area of increasing focus for Wanda Group; last weekend Wanda said 2015 revenues for its culture and tourism arm, Wanda Cultural Industry (which accounts for 17 per cent of the total top line), were up nearly one-half year on year against group revenues up a fifth. Growth at Shenzhen-listed subsidiary Wanda Cinema Line was similarly racy.

　　万达创始人王健林近年在海外收购不少战利品式的资产，但这笔交易在战略上是有道理的。中国的文化娱乐市场正快速增长，且也是万达集团越来越关注的领域；最近万达宣布旗下文化旅游业务——万达文化产业集团(Wanda Cultural Industry)的2015年总收入（占集团总收入的17%）同比增长近50%，而集团总收入增长五分之一。在深圳上市的子公司万达电影院线(Wanda Cinema Line)也有同样快速的增长。

　　Despite this rapid pace of growth, China’s movie-goers are underserviced. At the end of 2014, there were only half as many cinemas in China as the US, according to EntGroup; this is set to grow. Content, too, presents opportunities. Chinese film production went from 91 in 2010 to 320 in 2014, accounting⁶ for just over half of the total box-office receipts. Hollywood films are subject to a quota⁷ of 34 a year, but joint⁸ productions involving Hollywood studios and a local partner fall outside this quota and do not have to pay 14 per cent of box office takings to the state distributor.

　　虽然增长速度如此快，但中国的电影院数量仍相对不足。据EntGroup的数据，在2014年底，中国的影院数量只有美国的一半；这注定将会增长。内容方面同样也展示着机遇。中国制作的电影数量已从2010年的91部增长至2014年的320部，带来的票房收入略高于票房总收入的一半。好莱坞电影受每年不超过34部的配额限制，但由好莱坞联手本地合作伙伴制作的电影不受配额限制，也不用向国有发行商缴纳14%的票房收入。

　　The Legendary deal offers Wanda the opportunity to grow rapidly in what remains⁹ a fragmented market; in 2014, Wanda Media was the second-biggest distributor, with just 3 per cent of China’s local language box office. By contrast, the lead studio in the US last year, Universal, had a share of one-fifth, according to Box Office Mojo (helped by Jurassic World, which was its top-grossing film). Buying Legendary will not just give Wanda exclusive access to the company’s back catalogue of blockbusters, it will also bring expertise¹⁰. That has the potential to add up to a much bigger win.

　　收购传奇娱乐的交易，在一个仍然分散的市场为万达提供了快速增长的机会；2014年，万达影视(Wanda Media)是规模第二的发行商，仅拥有3%的国内票房。相比之下，票房统计网站Box Office Mojo的数据显示，美国去年排名第一的制片商环球影业(Universal)拥有本土五分之一的票房（得益于其最卖座电影《侏罗纪世界》）。收购传奇娱乐不仅可以让万达独家获取该公司库藏的大片目录，还将为其带来专业知识。这将有可能带来更大的利好。

1 conglomerate   

n.综合商社，多元化集团公司

参考例句：

• The firm has been taken over by an American conglomerate.该公司已被美国一企业集团接管。
• An American conglomerate holds a major share in the company.一家美国的大联合企业持有该公司的大部分股份。

2 legendary   

adj.传奇（中）的，闻名遐迩的；n.传奇（文学）

参考例句：

• Legendary stories are passed down from parents to children.传奇故事是由父母传给孩子们的。
• Odysseus was a legendary Greek hero.奥狄修斯是传说中的希腊英雄。

3 knight   

n.骑士，武士；爵士

参考例句：

• He was made an honourary knight.他被授予荣誉爵士称号。
• A knight rode on his richly caparisoned steed.一个骑士骑在装饰华丽的马上。

4 Founder   

n.创始者，缔造者

参考例句：

• He was extolled as the founder of their Florentine school.他被称颂为佛罗伦萨画派的鼻祖。
• According to the old tradition,Romulus was the founder of Rome.按照古老的传说，罗穆卢斯是古罗马的建国者。

5 trophies   

n.（为竞赛获胜者颁发的）奖品( trophy的名词复数 )；奖杯；（尤指狩猎或战争中获得的）纪念品；（用于比赛或赛跑名称）奖

参考例句：

• His football trophies were prominently displayed in the kitchen. 他的足球奖杯陈列在厨房里显眼的位置。 来自《简明英汉词典》
• The hunter kept the lion's skin and head as trophies. 这猎人保存狮子的皮和头作为纪念品。 来自《现代英汉综合大词典》

6 accounting   

n.会计，会计学，借贷对照表

参考例句：

• A job fell vacant in the accounting department.财会部出现了一个空缺。
• There's an accounting error in this entry.这笔账目里有差错。

7 quota   

n.（生产、进出口等的）配额，（移民的）限额

参考例句：

• A restricted import quota was set for meat products.肉类产品设定了进口配额。
• He overfulfilled his production quota for two months running.他一连两个月超额完成生产指标。

8 joint   

adj.联合的，共同的；n.关节，接合处；v.连接，贴合

参考例句：

• I had a bad fall,which put my shoulder out of joint.我重重地摔了一跤，肩膀脫臼了。
• We wrote a letter in joint names.我们联名写了封信。

9 remains   

n.剩余物，残留物；遗体，遗迹

参考例句：

• He ate the remains of food hungrily.他狼吞虎咽地吃剩余的食物。
• The remains of the meal were fed to the dog.残羹剩饭喂狗了。

10 expertise   

n.专门知识(或技能等)，专长

参考例句：

• We were amazed at his expertise on the ski slopes.他斜坡滑雪的技能使我们赞叹不已。
• You really have the technical expertise in a new breakthrough.让你真正在专业技术上有一个全新的突破。