Recon to take $100M majority stake in Millennium Films
February 27, 2017
Movies | Los Angeles, CA | Corporate Acquisition
Recon (SZSE: 002692), the Chinese investment group that bought the UK's Aston Villa Football Club last year, has agreed to pay $100 million for a 51% stake in Millennium Films, a movie studio known for action franchises like "The Expendables" and "Rambo." The deal includes the rights to the studio's film library and the opportunity to acquire the remaining 49% of the business in the future.