Wanda Buys AMC Entertainment for $2.6 Billion

    May 21, 2012
    Mike Fossum
    Comments are off for this post.

AMC Entertainment, the second largest movie theater chain in North America, is being acquired by Beijing-based Dalian Wanda Group Co. Ltd. for $2.6 billion, which will create the world’s largest cinema company. AMC Theaters (American Multi-Cinema) currently has about 5,325 screens, and Dalian is China’s largest cinema company. AMC will keep its Kansas City headquarters, and Dalian Wanda plans to invest $500 million in the chain in the future.

AMC had previous merged with Loew’s Cineplex Entertainment in 2005, and presently operates 346 multiplexes. Dalian Wanda presently operates about 86 theaters with 730 screens, bringing in an annual revenue of $16.7 billion, with assets of $35 billion. Wang Jianlin, Chairman of Dalian Wanda Group, is a member of the Communist Party of China, and is the 232nd richest man in the world, with $7.1 billion.

AMC Entertainment was founded in 1920, and currently has roughly 18,500 employees, with locations in locations in Canada, the United Kingdom, France, Spain and Hong Kong. AMC is the second largest theatre chain in the U.S., after the Regal Entertainment Group.

  • Michael Smith

    I won’t be going to AMC Theaters anymore. I refuse to give my money to a communist party buying out the United States.

    • Nicky

      Hey, this is called globalization and this is how business works, especially when company has trouble with cash flow and leverage. If you guys think you are smarter than AMC’s management team, try to find a way to conquer the financial delimma. Cooperation to get win-win situation is not a good solution? Think about that, in 2010, Parkson, which owns KFC, pizzahut, etc, made gross profit of $1.7 billion in greater china area. Did’t count any other profit and franchise income. There are more U.S. firms operate china in forms of proprietorship and partnership than chinese firms operate in the U.s. Whatever you think, it did happen. Staffs in AMC still get paid, the profit still subject to tax by the U.S. government, nothing is changed but the owner. If you dont go, more people will lose their jobs because your emotional problem and government will not be satisfied with the taxes collected from amc. So, why you are so sensitive about the ownership. Only a name.

  • Michael Wesley

    This is appalling to say the least.

  • Pamela

    This is really sad. Before long the United States will be a foreign country. Our Government gives our money to these countries and they come in and buy up our business.The United States needs to wake up, why keep on giving to these people? Do you honestly think they would be helping us if we needed the help? I’m sure the Kerasotas family is sorry they sold out to AMC. Wake up people before its to late.There won’t be any companies owned by Americans, if you keep selling out to these foreign countries. And their using our money to buy them. This will only change if everyone gets out and votes in November 2012.

  • Jason L.

    I will NEVER step foot in another AMC theater again. Gerry Lopez and the money changers at Bain Capital and Apollo Management, much like our useless leaders in government, have no loyalty to this country. If the communist Chinese wanted to start buying up national landmarks as a way to humiliate us and erect high rise apartments for Chinese-only residents in their place, I’m sure 90% of the globalist traitors in our country would approve the sale as long as it fattened their overseas bank accounts.

    The Chinese see the world as their oyster to reap as they see fit and don’t think for a minute that they don’t have global aspirations. They are biding their time and playing it step by step. See how they are already treating Africans as an inferior race in that continent? Think they don’t see the rest of the world as inferior to themselves? Think again…

    Once they have a blue water navy, watch their nationalism go through the roof ala Japan prior to WWII.