In 2010 Metro-Goldwyn-Mayer, the Hollywood studio behind such legendary films as The Wizard of Oz and the James Bond and Hobbit franchises, filed for Chapter 11 bankruptcy protection. It was the classic victim of a leveraged buyout, from a group including Providence Equity Partners and TPG Capital, alongside Sony and Comcast.

The studio is currently rumoured to be the target of another group of investors with deep pockets — this time the Chinese. Mainland companies Dalian Wanda and the Fosun conglomerate are flush with cash. Dalian Wanda just went public in Hong Kong, raising almost $4bn, and Fosun has access to the coffers of its Portuguese insurer among other sources of money.

Both groups are interested in the movies; indeed they seem to be interested in acquiring almost anything, regardless of lack of apparent synergy. They control a dizzying range of businesses, and their purchases are coming at an accelerating speed. Moreover, they are merely two out of numerous Chinese firms on outbound buying sprees.