Wanda, Sony said to be close to movie alliance

Billionaire Wang Jianlin's Dalian Wanda Group Co is nearing an agreement to collaborate on movie projects with Sony Corp's film unit, according to a source with knowledge of the matter.

An accord could involve cofinancing and other forms of cooperation, such as marketing, said the source, who asked not to be identified because the matter is still private. Wanda may finance up to 10 percent of some films, the person said.

Representatives at Wanda and Sony either declined to comment or did not immediately respond to queries.