Ok, maybe not a takeover. But they did invest in a couple of Hollywood movies. it's all about the tricky distribution deals you have to make in China because of government control and import laws that govern foreign movies.
http://news.yahoo.com/china-film-takes-1st-stake-hollywood-movies-053415050.html
http://news.yahoo.com/china-film-takes-1st-stake-hollywood-movies-053415050.html