Utilize the input text as a context reference, choose the right relationship between Wanda Group and conglomerate from the options. Options: product/material produced, manufacturer, distributed by, industry, position held, original broadcaster, owned by, founded by, distribution format, headquarters location, stock exchange, currency, parent organization, chief executive officer, director/manager, owner of, operator, member of, employer, chairperson, platform, subsidiary, legal form, publisher, developer, brand, business division, location of formation, creator.

Two weeks ago property and entertainment conglomerate Dalian Wanda Group announced it would buy the organiser of the Ironman extreme endurance contests for $650 million.

Answer: industry