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Chinese firm Wanda eyeing more buys of U.S. theater chains
LOS ANGELES |
LOS ANGELES (Reuters) - Chinese conglomerate Dalian Wanda Group is interested in buying more U.S. theater chains following its purchase of cineplex owner AMC Entertainment, the company's chairman said on Tuesday.
Further deals would be part of the Chinese company's plan to invest $10 billion in U.S. acquisitions, Wanda Group Chairman Wang Jianlin told reporters. The purchases would be made by AMC on Wanda's behalf, he said.
"We see other possible (merger and acquisition) opportunities, but we can't lose sight of the need for them to be profitable," he said.
Wanda also is talking with the five largest Hollywood studios about the possibility of investing in films or creating movie funds with the studios, Jianlin said.
Wanda announced the completion of its $2.6 billion purchase of theater owner AMC on Tuesday, creating the world's largest theater chain.
(Reporting by Ronald Grover; Editing by Gary Hill)
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