Billionaire Wang Jianlin's takeover of American production studio Legendary is expected to boost his influence in Hollywood.

Dalian Wanda's chairman has announced that the deal gives him a controlling stake in Legendary Entertainment, the production company behind global box office hits like The Dark Knight, Jurassic World and Godzilla movies.

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Wanda's $3.5-billion deal for Lengendary is so far the biggest acquisition by a Chinese firm in the U.S. This gives 61-year-old Wang, China's richest man, unprecedented clout in Hollywood's cultural landscape. This could allow China to flex its "soft power" in the movie-making world.

"We have to have a position in the global industry," Wang said during a press conference announcing Wanda's purchase of Legendary. "And a few American movie companies have these commanding heights of the movie industry in the world. We want to change this situation and the landscape."

While the Legendary deal is Wang's biggest purchase, the billionaire has been on a shopping spree lately, scouring the world over for valuable additions to his already-sizable portfolio.

In 2015, Wanda bought a 20 percent stake in Spanish soccer club Atletico Madrid for $52 million. He also spent $1.2 billion for Swiss sports marketing company Infront Sports & Media and another $900mn for Florida-based World Triathlon Corp.  Wang is also increasing his presence in Los Angeles after he acquired the former Robinsons-May department store in Beverly Hills for $420 million in 2014.

"He is building credibility so that when he expresses interest, you know it is going somewhere, it is not just talk," said USC political science professor and Chinese film expert Stanley Rosen.