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Dick Clark Productions owner, Eldridge Industries, has terminated its $1 billion November agreement to merge with Dalian Wanda Group after the Chinese corporation "failed to honor its contractual obligations," reports Forbes, citing Eldridge's statement.

The potential termination fee is reportedly close to $25 million, in addition to the $25 million Wanda paid Eldridge in January for extending the close date, bringing the total cost of failed deal to about $50 million for Wanda.

Why this matters: Wanda's purchase of Dick Clark Productions would've helped the Chinese company's efforts to expand its influence in the U.S., which Wanda owner and China's richest man, Wang Jianlin, has been trying to do for the past few years. In 2012, Wanda purchased AMC Entertainment for $2.6 billion.

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Robert Mueller speaks out on Roger Stone commutation

Former Special Counsel Robert Mueller testifies before the House Permanent Select Committee on Intelligence on Capitol Hill on Wednesday July 24, 2019. Photo: The Washington Post / Contributor

Former special counsel Robert Mueller responded to claims from President Trump and his allies that Roger Stone was a "victim" in the Justice Department's investigation into Russian interference in the 2016 election, writing in a Washington Post op-ed published Saturday: "He remains a convicted felon, and rightly so."

Why it matters: The rare public comments by Mueller come on the heels of President Trump's move to commute the sentence of his longtime associate, who was sentenced in February to 40 months in prison for crimes stemming from the Russia investigation. The controversial decision brought an abrupt end to the possibility of Stone spending time behind bars.

Trump dons face mask during Walter Reed visit

Trump wearing a face mask in Walter Reed National Military Medical Center on July 11. Photo: Alex Edelman/AFP via Getty Images

President Trump wore a face mask during his Saturday visit to Walter Reed National Military Medical Center, according to AP.

Why it matters: This is the first known occasion the president has appeared publicly with a facial covering as recommended by health officials since the coronavirus pandemic began, AP writes.

Updated 13 hours ago - Politics & Policy

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

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