Who owns amc theaters

The acquisition went through successfully in August , making Wanda Cinemas the world's largest cinema operator. The company made major changes in AMC theater design and layout, including generously sized reclining seats, waiter service, and expanded food and drink offerings. Of course, the last year has put the movie theater industry in a precarious position due to the COVID pandemic, and while everyone is hoping that theaters bounce back as the pandemic slowly comes under control, it apparently made sense to Wanda to get out now.

But they didn't. So what, then, are Wanda's true motivations for buying AMC? How does Wang Jianlin benefit? Herewith, a few theories. The AMC purchase might simply be a vehicle for Wanda to move a large sum of money from "soft" Chinese currency into hard American greenbacks. Theaters are a cash business, and Wanda could eventually take AMC public, which would be a nifty way for the company to shift a chunk of its asset base and grow it in the relatively safe haven of the U.

Dalian Wanda, the parent company of Wanda Cinema Line, is mainly in the business of commercial real estate in China. And commercial real estate in China hasn't been a very appealing business lately, with government regulation, tight debt policies, and a slowing economy all contributing to a downturn in the sector.

So Wanda may see AMC as a better mid- to long-term bet than its core real estate development business. We've already seen one hobbled Chinese real estate company, Paul Y Engineering, attempt, unsuccessfully, a foray into entertainment with Legendary Pictures. But unlike Paul Y, Wanda already has a presence in the movie business. At least part of Wang Jianlin's business rise can be attributed to his close dealings with disgraced politician Bo Xilai, who was once the party chief of Dalian, where Wanda is based.

Although Wang denies he is being investigated, he must be thinking about the possibility of future political fallout from the Bo scandal. AMC will give him a nice business escape hatch if he needs it. Expand the sub menu Music.

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