Chinese Company Wanda Group Acquires AMC Theater Chain

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.“