Chinese company wraps up its purchase of AMC Entertainment

By David Twiddy
A Chinese conglomerate has completed its acquisition of AMC Entertainment Inc., creating the world’s largest theater exhibitor.
Dalian Wanda Group. Co. Ltd. and Kansas City-based AMC announced Tuesday that the deal, valued at $2.6 billion, had closed Thursday.
AMC, the second-largest U.S. theater chain, will operate as a wholly owned subsidiary of Wanda. The companies said AMC will retain control of the movies and other programming shown in its theaters and will remain based in the Kansas City area. It plans to open a new headquarters in Leawood next year.
“All of us at AMC are thrilled about our future with Wanda,” CEO Gerry Lopez said in a written statement. “It allows us to continue expanding and innovating in what is the world’s largest movie market.”
AMC operates 338 theaters with 4,865 screens, mostly in the United States, and Wanda operates 94 theaters with 805 screens in China. Its portfolio includes luxury hotels, commercial real estate and department stores.