Chinese company to buy AMC theaters

BEIJING – A Chinese conglomerate announced today 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 it is willing to invest an additional $500 million to fund AMC’s expansion. AMC headquarters will remain in the Kansas City area and day-to-day operations and management will remain unchanged.

“We support AMC becoming bigger, not only in the United States but in the global market,” said Wanda Chairman Wong Jianlin.

AMC’s staff numbers are not expected to be affected, the company said.