China's Dalian Wanda Group, owned by billionaire Wang Jianlin, is in preliminary talks to purchase Dick Clark Productions, which is reportedly valued at $1 billion.

Wanda has reportedly held some discussions to acquire Dick Clark Productions, the firm behind the Golden Globe Awards, American Music Awards, and Billboard Music Awards, although the talks are still at an early stage and there remains a valuation gap between the two firms, according to The Wall Street Journal.

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"Dick Clark Productions and Beijing Wanda Culture Industry Group Co., Ltd., have agreed to enter into exclusive talks with the shared goal of finalizing a mutually satisfactory transaction," a spokesperson for Eldridge Industries, which is controlling Dick Clark Productions, told The Hollywood Reporter.

Meanwhile, a representative from Wanda refused to comment about the report.

Should the deal push through, Dick Clark Productions would be Wanda's latest American trophy property. The company has been aggressive in pursuing entertainment assets overseas.

Wanda owns the no. 2 U.S. cinema chain AMC Entertainment, which was acquired in 2012 for about $2.6 billion. It also proposed to acquire its rival Carmike Cinemas for $1.1 billion, which will then make him the biggest theatre operator across the United States. He also agreed to buy UK's biggest theater chain Odeon and UCI Cinema Groups from Terra Firma, which is founded by Guy Hands, for $650 million.

Early this year, Wanda acquired Legendary Entertainment, maker of Pacific Rim and Warcraft, for $3.5 billion. Its subsidiary unit Movie Media Group also invested in Paramount's Teenage Mutant Ninja Turtles: Out Of The Shadows.

In a recent interview with Reuters, Wang was quoted saying that he targets to own all Hollywood companies and take home their technology to China.

"We are interested not only in Paramount, but all of them. If one of the Big Six would be willing to be sold to us, we would be interested," he said.

TagsDalian Wanda, wanda group, Dick Clark Productions, hollywood, Elridge Industries, entertainment industry