Business & Tech
Chinese Firm Buys AMC Theatres
Chinese firm will acquire the movie theatre for $2.6 billion.
AMC Theatres, the Missouri-based chain of 346 nationwide movie theatres, has been acquired by a Beijing private conglomerate for the tune of $2.6 billion.
The deal was struck between Dalian Wanda Group Co., Ltd. and AMC Entertainment Holdings, Inc. The Chinese firm will invest $500 million in AMC over time for AMC's "strategic and operating initiatives."
A press release from AMC said that the decision would not impact the company's 18,500 employees; the Chinese firm reached an agreement to secure the employment of AMC's management team.
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To read more about Dalian Wanda Group Co., Ltd. read the story on PotomacLocal.com
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