Chinese company buys AMC

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Monday, May 21, 2012

Chinese company Wanda signed a deal in Beijing to buy AMC, the second-largest theater chain in the U.S.

If approved by U.S. and Chinese regulators, the $2.6 billion acquisition will create the world's largest theater group, the companies said. The move, China's biggest corporate takeover to date in the USA, highlights the rising financial strength of its top firms.

Both partners stressed they plan no changes to the AMC brand, management and day-to-day operations. For the U.S. movie-goer, the AMC experience will change "not at all," insisted Gerry Lopez, CEO and President of AMC, except for an increase in renovations to upgrade some theaters.

Read more at USA Today.

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