Dalian Wanda in talks to buy World Triathlon for $850m

Chinese property and investment firm Dalian Wanda Group is in exclusive talks to acquire World Triathlon Corp, the United States-based owner of the popular Ironman Triathlon franchise, for more than $850 million, according to a person familiar with the matter.

The potential deal underscores China's increasing appetite for US media assets. Live events and sports brands are some of the most attractive and fast-growing areas of the media industry.

Dalian Wanda outbid other potential buyers for Ironman and is now in negotiation to finalize a deal with its owner, private equity firm Providence Equity Partners LLC, the person said.