Have a news tip for us?
Just email . Ideas for stories, links to interesting articles, and press releases are welcome.
AMC said to be talking to Chinese buyer
posted by
Michael Zoldessy
on
May 8, 2012 at 10:50 am
Wanda Group, one of China’s largest theater owners, could be purchasing AMC. Talks have intensified recently between the two companies after negotiations for over a year. Such an acquisition could drastically change the cinema marketplace as well as China’s power over the American film industry.
Read more in the New York Times.
Comments (4)
Yikes! The AMC Uptown in DC often has world premieres of movies, including ones about US military and attended by government members. In China, there is repression. Will the Chinese censor the movies in US theaters or abroad? Few people would be alarmed if a British or Dutch company bought a major US movie exhibitor, but a Chinese company?
You know what will happen when a Chinese company takes over AMC…chinese food!!!
AMC is owned by JPMorgan, Apollo Management, the Carlyle Group, Bain Capital, and Sepctrum Equity Investors under “Marquee Holdings”. Those capital firms are essentially looking to cash out (same happened last year with Kerasotes, instead of refinancing they sold to AMC to provide their investors a return). Wanda, like any investor is looking for a rate of return, not cultural imperialism. And while China is in the process of developing multiplex screens, perhaps AMC’s global development can provide some assistance in that capacity (although their “global development” hasn’t exactly been a home run – the 24-30 screen complex has pretty much flopped around the world, and its been reported in a few places AMC might be looking to offload their Canadian operations).
PS: we should be worried who will take over Clearview. I can only think of two exhibitors who might want that mess.