Movies

China's Wanda Group to buy AMC Entertainment for $2.6 bn

http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/smartcrop_800x800/public/images/tv-images/2017/12/11/amc.jpg?itok=02cEFA08

MUMBAI: Hollywood is attacting investments from China while opening up its own market in a limited way to the western movie world.

China-based Dalian Wanda Group has agreed to buy AMC Entertainment, the second largest movie theatre chain in North Amierica, for $2.6 billion.

Wanda, located in Beijing, intends to also invest up to $500 million in AMC strategic and operating initiatives over time as it aims to create the world‘s largest cinema theatre chain.

The move comes after a line of investments Wanda has made in the entertainment sector since 2005. "This acquisition will help make Wanda a truly global cinema owner," said Wanda chairman and president Wang Jianlin in a statement. “We share with AMC a passion for the growth of the worldwide movie industry."

The transaction is pending closing conditions and regulatory approval from the US and China. “With Wanda as its partner, AMC will continue to seek out new ways to expand and invest in the movie-going experience,” AMC CEO and President Gerry Lopez said in a statement.

The Wanda group has more than $1.6 billion invested in entertainment and cultural activities.

AMC, headquartered in Kansas City, employs about 18,500 people and owns 346 theatres.

Latest Reads

http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2018/06/11/pvr.jpg?itok=ttyHOxWD
PVR Cinemas pilots the Delhi Edition of the Year Round Programme by MAMI

PVR Cinemas, with its storied history of becoming the leading exhibitor and an eminent platform for all things cinematic launched the Year Round Programme by Mumbai Academy of Moving Image (MAMI) in Delhi.

Movies Hindi
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2018/06/08/Rishi.jpg?itok=vh85U021
Banijay Asia ropes in Rishi Negi as chief operating officer

Banijay Asia, founded by Deepak Dhar, has appointed Rishi Negi as chief operating officer (COO). The group recently announced its entry into the region with a commitment of producing scripted and non-scripted content across genres including digital and films for India and South East Asia. Negi...

Movies Independent
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2018/05/25/hiren.jpg?itok=NZNnxk8P
Shemaroo gears up for digital era; adds devotional app Ibaadat

MUMBAI: Right at the opportune time, one of India’s oldest media companies, Shemaroo Entertainment, has launched a new devotional app called Ibaadat. The Islamic devotional app will contain live feeds, devotional tunes, an e-commerce platform, donation service, etc. Over time, customer feedback...

Movies Hindi
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2018/05/07/bms.jpg?itok=DaZHKFB_
BookMyShow sells over 3.5 million tickets for Avengers: Infinity War; contributes close to 45% to its opening weekend collection in India

Avengers: Infinity War set new records on BookMyShow as it became the first Hollywood film to sell an unprecedented 12 tickets a second when the bookings were at its peak on the weekend. BookMyShow has so far sold over 3.5 million tickets for this mega blockbuster and has contributed close to 45...

Movies Hollywood
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2018/05/07/PVR-800.jpg?itok=BC11f2Co
Higher numbers push up financials; 'Padmaavat' top grosser for PVR

BENGALURU: Higher box office, food and beverages (F&B) and sponsorship revenues, higher occupancy, higher average ticket prices (ATP) have helped push up Indian exhibitor PVR Ltd’s (PVR) overall numbers for the quarter and year ended 31 March 2018 (Q4-2018, quarter under review, FY-2018, year...

Movies Hindi
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2018/05/02/ip.jpg?itok=3r-IHOLG
World IP Day celebration in Delhi and Mumbai

MUMBAI: A range of stakeholders from the local screen community united to stage a number of events in celebration of World Intellectual Property (IP) Day. This year’s theme campaigns celebrate the brilliance, ingenuity and courage of women who are driving change in the world and shaping our common...

Movies Hollywood
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2018/03/31/fukrey.jpg?itok=a5TT3ptX
Zee Cinema's marketing mania for the world tv premiere of 'Fukrey Returns' on 1st April at 8 PM

The Fukra boys Hunny, Choocha, Zafar and Lali get on with their lives after successfully getting Bholi Punjaban arrested. But they are in for a shock when she returns early from prison and tries to seek revenge. The second installment of the Fukrey franchise, Fukrey Returns which earned over 100...

Movies Hindi
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2018/03/12/eros.jpg?itok=xcrdykee
Eros International's Bajrangi Bhaijaan grosses over Rs.169.17 crores (USD 25.95 million) in first 10 days of release

Eros International Media Ltd, a leading global film company in the Indian film entertainment industry, announced Producer Salman Khan Film’s Bajrangi Bhaijaan has collected over Rs. 160 crores within ten days of its release in China. More than two years since it opened in India, Bajrangi Bhaijaan...

Movies Hindi
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2018/03/10/FWICE_0.jpg?itok=j36D4TLb
'Federation of Western India Cine Employees' conducts a successful conclave with 22 crafts union’s association

Mumbai: The Federation of Western India Cine Employees (FWICE), the nodal body for all cine employees hosted a formal get-together and benevolence meeting with the leaders of the 22 crafts union’s associations affiliated to it on 7th March 2018 at Pathare Prabhu Hall, Andheri (West), Mumbai.FWICE...

Movies Hindi

Latest News

Load More

Sign up for our Newsletter

subscribe for latest stories