Hopefully, they won't be glazing the popcorn . . .

[Randy W]

Chinese Firm Now World's Largest Theater Operator (AMC)

By Investopedia | March 04, 2016

Yesterday AMC Entertainment Holdings Inc. (AMC) which was bought by Chinese company Dalian Wanda for $2.6 billion in 2012, purchased Georgia-based theater operator Carmike for $1.1 billion--making it the largest theater operator in the United States. Together, AMC and Carmike have 8380 screens to Regal Entertainment's 7361 screens. The deal also provides AMC, whose screens are concentrated in urban areas an entryway into rural areas, where Carmike holds an advantage.

The deal is also an indicator of China's growing ambitions in Hollywood.

Rising middle class incomes and a thriving economy have resulted in a boom for China's entertainment industry and the country is poised to become the world's largest box office by 2017. But, it still has some catching up to do. China's $6.78 billion in box office collection last year paled in comparison to Hollywood's record year ticket sales of $11 billion. More importantly, Hollywood's sophisticated approach to movie-making and entertainment will yield rich dividends in the Chinese market.

 

[Randy W]

in the NYT

 

 

Dick Clark Productions to Be Sold to Chinese Company for $1 Billion

 

Dalian Wanda Group said on Friday that it would buy Dick Clark Productions for about $1 billion, giving it the broadcasting rights to the Golden Globe Awards, the Academy of Country Music Awards and the New Year countdown celebrations in New York.

Dalian Wanda has been on a multibillion-dollar spending spree in the entertainment industry. It is the world’s biggest owner of movie theaters, with complexes across the United States, Europe and Australia. This deal would bring productions including Miss America and the Hollywood Film Awards under the same roof as “Godzilla” and “300,” films by Legendary Entertainment, another company that Wanda snapped up in recent years.

Some see the company as a propaganda threat, and it has had to defend itself against concerns that its acquisitions are part of a pro-Chinese agenda.

 

 

See CFL topic -

Freedom for immigrants in the west undermined by "business at all