Chinese Group Buys AMC Theatres

The nation’s second-largest theater chain has been sold to a Chinese investment group. AMC Theatres has 5,048 screens in 347 locations across the U.S. and Canada. The AMC Empire 25 in Times Square is the nation’s busiest theater.

A Chinese conglomerate has announced it will buy U.S. cinema chain AMC Entertainment Holdings for $2.6 billion to create the world’s biggest movie theater operator. Dalian Wanda Group Co. said Monday it is willing to invest an additional $500 million to fund AMC’s strategic and operating initiatives. Wanda said AMC’s headquarters will remain in the Kansas City area and day-to-day operations will remain unchanged.

As I’ve mentioned here several times, I ran South Florida multiplexes for AMC from 1986-1993. It was the hardest job I’ve ever had, particularly when telling young management applicants: “You will work every Thanksgiving and every Christmas and will never have a weekend day off.” But I still look back on that gig fondly. Mostly.