On May 20, 2012, China’s Dalian Wanda Group Co., Ltd., a leading Chinese private conglomerate and China’s largest investor in cultural and entertainment activities, and Kansas City-based AMC Entertainment Holdings, Inc. (“AMC”), No. 2 U.S. movie exhibitor, announced that they have signed an agreement under which Wanda will acquire AMC, creating the world’s largest cinema owner. The transaction is valued at approximately US$2.6 billion.
The move, which is subject to regulatory approval, will create the world’s largest cinema group. AMC currently operates 346 theaters with 5,034 screens primarily in the US and Canada (including 2,336 3-D screens and 128 IMAX screens). Wanda has 86 theaters and a total of 730 screens in China as well as large-scale stage show, film production and distribution, entertainment chains.
A few days ago, I had an interview with the China Radio International (CRI), the state-run overseas broadcaster of China, and the following CRI program link will lead you to my take, along with Professor Stanley Rosen’s (USC), on this historical takeover: