Reed Smith has advised China’s Dalian Wanda on its $1 billion takeover of Dick Clark Productions, the company that runs the Golden Globe awards and Miss America pageants. Paul Hastings represented the seller.

Wanda, run by China's richest man, Wang Jianlin, said in a statement that it would buy all of Dick Clark Productions, an iconic name in U.S. entertainment that also produces the Academy of Country Music Awards and the Billboard Music Awards.

The Paul Hastings team was led by corporate partner David Hernand and, with support from tax partner Alexander Lee and employment partner Stephen Harris.

Wanda's deal is its latest move in a cruise into Hollywood. It already owns Legendary Entertainment, co-producer of film hits such as "Jurassic World", and U.S. cinema chain AMC Entertainment Holdings. It also has business ties with Sony Pictures and Sony Corp's film unit in China.