Chinese conglomerate Dalian Wanda Group has bought U.S. film studio Legendary Entertainment for about $3.5 billion, turning its chairman into a Hollywood movie mogul as China’s richest man steps up a drive to diversify his business empire overseas. Wanda confirmed the deal at a news conference in Beijing on Tuesday, where chairman Wang Jianlin said he plans to package Legendary, producer of hits like “Jurassic World”, with his company’s existing movie production assets in China and sell shares in the merged operation in an initial public offering.