Skip to comments.Wanda Group of China Buys AMC Entertainment [Second Largest US Theater Chain!!]
Posted on 05/20/2012 8:53:44 PM PDT by Steelfish
Wanda Group of China Buys AMC Entertainment By Richard Verrier May 20, 2012
The owner of Chinas largest movie theater circuit took a big leap forward into the U.S. market, acquiring AMC Entertainment Inc., the nations second-largest theater chain, the latest in a flurry of high-profile deal-making between the countries entertainment industries.
Dalian Wanda Group, a Chinese conglomerate, said in a statement that it had reached an agreement to acquire AMCs 5,048 screens in 347 theaters in the U.S. and Canada. The Kansas City, Mo., theater chain is owned by several investment firms, including JPMorgan Partners, Apollo Investment Fund and Bain Capital Investors.
The transaction is valued at $2.6 billion and would create the world's largest cinema owner, the companies said in a statement.
The deal marks the largest investment to date by a Chinese company in the U.S. entertainment industry and gives Wanda a foothold into the U.S. movie theater business in what some analysts viewed as a trophy acquisition.
Until now, most of the traffic was eastward, with U.S. studios and film companies expanding their business investments in China. This month, Chinese film distributor Bona Film Group announced that it had agreed to sell News Corp. a roughly 20% stake in the company. Walt Disney Corp. of Burbank and DreamWorks Animation Studios in Glendale also have recently annnouced joint ventures in China.
For Wanda, the acquisition of AMC gives the Chinese theater operator a pipeline into two of the worlds largest theater markets, giving it more clout in negotiating with major Hollywood studios that are eager to expand into the rapidly growing Chinese market.
(Excerpt) Read more at latimes.com ...
The remake of Red Dawn was changed to make the bad guys North Korean as opposed to the planned Chinese. This only makes it more obvious that China will be able to control what we see and hear about them.
Not that I ever go out to the movies, but now I have even less reason to.
Remember when the Japanese bought up all kinds of US properties in the 1980’s? They ended up selling them off at a loss in the 1990’s. Let’s hope history repeats itself.
How’s that “free trade” thing working, America?
Pretty one-way, it looks from here.
I think we've had it up to here with his nonsense and he'll be soundly repudiated at the polls in just a few short months.
Oh my god. Nothing but Jackie Chan movies forever!
At least you can get egg rolls and wonton soap in the food shop.
Can we try to sneak in a few Yojimbo movies? Godzilla? Mothra? Pretend they are Chinese, okay?
...and coming in June, "Obamao and the Seven Happiness Birth Certificate"
Well they must do something with the fiat dollars they be holding..
I have pretty much given up on going to movies at all. Too much liberal tripe in all movies.
Whether it’s action/adventure, romantic comedy, teenage young adult comedy, science fiction, or others, they all seem to have politically correct and liberal messages in them.
And today’s computer graphic special effects look so fake as to be very distracting, in my opinion.
So one group of communists buys a theatre chain from another group of communists. Hollywood is full of Reds, they’ll fit right in. Heck, they may be considered too conservative!!
wait for it .... here it comes ....
Don’t worry, they’re going to have a Chinese firewall.
Really; what would change in the themes of our movies if Red China controls them?
“Really; what would change in the themes of our movies if Red China controls them?...Nothing”
Exactly! Hollywood has been promoting communism for quite some time. Now the communist Chinese have put their official stamp of approval on it.
Will the Chinese have control on the content of entertainment...You Betcha!
Will Hollywood surrender control...You Betcha!
Great, so now when you go out to the movies, you’re just going to be hungry for another one a couple of hours later.
I am getting sick and tired of the commUNist Chinese and the so-called American liberals dictating the rules of the so-called game. We should be a strong country but when Obama slithered his way into the White House/Red House the American people have been bowing to the Communist Chinese.
The people who built Red China as our preferred trading partner are the same ones who control the entertainment industry anyway, so nothing will change.
There hasn’t been much for wholesome Americans to watch for years anyway.