The New York Times is reporting that one of China’s most prominent theater operators may have its eyes set on Kansas City based AMC ENTERTAINMENT.
The newspaper claims that according to sources briefed on the discussions, that China’s WANDA GROUP is in talks to buy part or all of AMC.
The WANDA GROUP is a Chinese conglomerate whose portfolio includes commercial properties, luxury hotels, department stores, film production and distribution. It also operate a movie theater circuit of 730 screens in 68 multiplex locations that account for about 15% of China’s fast-growing movie ticket sales. WANDA is also one of IMAX’s major Asian customers with 47 of the large screen installations presently throughout its Chinese circuit.
If the speculated upon deal occurs it would give WANDA a commanding presence in the world’s two largest movie markets—namely China and the United States where AMC is this nation’s second largest theater circuit after REGAL ENTERTAINMENT.
AMC presently operates about 350 theatre complexes with approximately 5,050 screens and remains headquartered in Kansas City, Missouri but is relocating to Leawood, Kansas where construction of its new headquarter is currently under way.