China has consolidated the US movie theatre industry and now control the largest movie theatre chain in America.
AMC will pay $30 a share for Carmike, which adds up to a total consideration of $1.1 billion. AMC, currently the country’s second-largest theater chain would pass Regal Entertainment Group to be the leader after absorbing No. 4 Carmike.
It’s the latest big splash made by a Chinese company in the U.S. entertainment industry — and second this year for Wanda Group, which paid $3.5 billion for a majority stake in “Jurassic World” production company Legendary Entertainment in January. “Hunger Games” studio Lions Gate Entertainment Corp. inked a coproduction deal with broadcaster Hunan TV last year, and Perfect World Pictures invested $250 million in Universal Pictures’ production slate.
Congrats America. You’ll be speaking Mandarin in no time at all.
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Watch for those subliminal messages flashing on the big screen… those Chineese are very tricky. Look forward to General Tso’s flavored popcorn.
General tso popcorn? That sounds fantastic. Maybe some sweet and sour nachos while were at it.
Looking forward to the Chinese propaganda flicks before the main feature.