Recently, it was reported that several high-profile CEOs, including Levin and Liang Jun, have stepped down from their positions at LeTV. However, the company has also managed to attract new investors, signaling a potential turnaround. According to recent reports, two of China’s top real estate giants—Evergrande Group and Wanda Group—are reportedly considering investing in LeTV, with an official announcement expected in the near future.
Analysts suggest that the real estate companies are likely drawn to LeTV’s strong presence in the cultural and entertainment sectors, particularly its film and media divisions. This investment could help Evergrande and Wanda further expand their influence in the cultural industry, aligning with their broader strategic goals.
In July, Sunac, LeTV’s second-largest shareholder, made a significant move by acquiring 91% of 13 real estate projects in Wenzhou for RMB 29.6 billion. The company is also expanding its cooperation with seven cultural and tourism cities, focusing on areas like film production and entertainment development.
Similarly, Evergrande has been actively entering the cultural sector. Earlier this year, Evergrande Boys secured six major projects nationwide, including what they claim to be the world's largest theme park and one of the top-tier entertainment complexes.
However, as of now, neither Wanda nor Evergrande has officially confirmed the investment. LeTV officials have not responded publicly, and Wanda’s brand center has stated that they are still verifying the information. Evergrande has denied any involvement in investing in LeTV.
LeTV has remained suspended for over six months, and if such a high-level investment were to materialize, it would likely be a strong signal that the company is preparing to resume trading.
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