Wang Jianlin, Chairman of Wanda Group, delivers a speech at the signing ceremony of buying Hollywood studio Legendary Entertaiment. [Photo: sohu.com]

China's Wanda Group has signed a deal to buy Hollywood studio Legendary Entertainment for 3.5 billion U.S. dollars.

The deal is said to be China's largest cross-border cultural acquisition so far.

Thomas Tull will remain as Chairman and CEO of Legendary and will continue to be responsible for its day-to-day operations.

Legendary is a leading film production company that has delivered such blockbusters as the Batman trilogy, Inception, The Hangover, and Jurassic World.

After the acquisition, Wanda will help Legendary increase its market opportunities, especially in the fast-growing Chinese market, enabling Legendary to expedite the growth of the company.

The deal is the latest in a series of overseas acquisitions by Wanda, including the promoters of the Ironman extreme endurance contests and Swiss sports marketing group Infront.