In recent news, it was reported that several CEOs, including Levin and Liang Jun, have left the company. However, LeTV has also managed to attract new investors. According to reports, two of China's top real estate developers, Evergrande Group and Wanda Group, are considering investing in LeTV, with an official announcement expected soon.
Analysts suggest that if Evergrande and Wanda actually proceed with their investments, it could be due to LeTV's strong position in the cultural and film industries. This move may help both companies expand their presence in the entertainment sector.
Earlier this year, Sunac, LeTV’s second-largest shareholder, invested 2.96 billion yuan to acquire 91% of 13 Wenzhou city projects. The company is also continuing its collaboration with seven cultural and tourist cities, as well as in film-related ventures.
Evergrande has also been actively expanding into the cultural industry. At the start of the year, Evergrande Boys secured six major projects nationwide, described as "the world's largest theme park" and "world-class."
As of now, neither LeTV nor Wanda officials have confirmed the news, and Evergrande has not commented on the potential investment. According to a report by Daily Economic News, representatives from the Wanda Brand Center stated they were verifying the information and were unaware of such sudden news. Evergrande officially denied any involvement in investing in LeTV.
LeTV has been suspended for over six months. If it can secure investments from major players like Wanda or Evergrande, it may signal a positive development and potentially lead to the resumption of trading.
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