In a move that seemingly has gone unnoticed by a lot of outlets, CNN is reporting that Chinese firm Dalian Wanda Group has purchased the AMC theater chain for $2.6 billion. This is the biggest deal yet between the Chinese and US entertainment businesses, even after Walt Disney and Marvel Studios announced their partnership with DMG Entertainment for Iron Man 3.
With the purchase, Dalian is now the world’s largest theater chain. Dalian Wanda is a private company from China that generates $16.7 billion in annual revenue from its commercial development and entertainment businesses. They own 730 screens in China, adding the 5,034 screens of AMC will make them the biggest chain in the world. However, AMC will still be a privately held company, and management of the company will remain in their Kansas City offices.
The report also says that their operating processes won’t change, which is good news, as AMC is the only theater chain even willing to try something different, even if they back out at the last second like they did with 2010’s Hatchet 2 unrated release. Hey, at least they tried.