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2012/05/22

China firm buys AMC to form world's largest cinema chain

-This guy in the video looks 13 years old. 


AMC Entertainment Holdings, the owner and operator of the AMC Theater chain, is being acquired by Chinese company Dalian Wanda Group.

The deal is worth $2.6 billion and will ultimately create the world's largest cinema maker. The agreement includes a $500 million investment by Wanda to fund AMC's strategic and operating initiatives. AMC also assured its over 18 thousand employees that the acquisition will not affect employment levels at the company.

Gerry Lopez, Chief Executive Officer and President of AMC, said, "As the film and exhibition business continues its global expansion, the time has never been more opportune to welcome the enthusiastic support of our new owners. Wanda and AMC are both dedicated to providing our customers with a premier entertainment experience and state-of-the-art amenities and share corporate cultures focused on strategic growth and innovation. With Wanda as its partner, AMC will continue to seek out new ways to expand and invest in the movie-going experience."

http://youtu.be/dGpLmIjuazk

China's Dalian Wanda Group and AMC Entertainment announced Monday a $2.6 billion deal to take over the U.S. theater group, forming the world's largest cinema chain, according to a new release on the deal.

The move is the latest in a raft of deals between U.S. entertainment companies and Chinese firms, linking the world's largest theater market with the world's fastest growing.

China firm buys AMC to form world's largest cinema chain - CNN.com:


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