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  1. #1
    Atomic Punk
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    Default Chinese company to buy US movie theater chain AMC.

    http://www.miamiherald.com/2012/05/2...vie.html#moreb

    BY JOE MCDONALD
    AP BUSINESS WRITER
    BEIJING -- A Chinese conglomerate announced Monday it will buy a major U.S. cinema chain, AMC Entertainment Holdings, for $2.6 billion in China's biggest corporate takeover in the United States to date.

    Dalian Wanda Group Co.'s purchase reflects the global ambitions of a wave of cash-rich Chinese companies that are using acquisitions to speed their expansion by obtaining foreign skills and brand names.

    Wanda said the deal will create the world's biggest movie theater operator. The Beijing-based company said it will invest an additional $500 million to fund AMC's development. AMC operates 346 cinemas, mostly in the United States and Canada, and says it has 23 of the 50 highest-grossing U.S. outlets.

    "We support AMC becoming bigger, not only in the United States but in the global market," said Wanda chairman Wang Jianlin at a signing ceremony for the acquisition.

    The deal reflects rising Chinese investment in U.S. corporate assets despite disputes between the two governments over trade and political issues such as this month's diplomatic standoff over a blind Chinese legal activist. It is the largest-ever takeover of a U.S. company by a Chinese company.

    In terms of all Chinese corporate investments in the U.S., the deal is the third largest, according to financial research firm Dealogic. It ranks behind investments by Beijing's sovereign wealth fund, the China Investment Corp., of $5 billion for a minority stake in Morgan Stanley and $3 billion in Blackstone Group LP, both in 2007.

    Chinese companies had invested $34.8 billion in the United States by the end of 2011 in industries including auto parts, agriculture and steelmaking, according to data compiled by economist Derek Scissors at the Heritage Foundation in Washington.

    Globally, outbound mergers and acquisitions by Chinese companies total $16.8 billion so far this year, up 6 percent from the same period last year, according to Dealogic.

    Wanda said AMC's headquarters will remain in the Kansas City area and day-to-day operations will not change. It said AMC's management would remain in place and staff numbers were not expected to affected. The company employs some 18,500 people.

    Wanda, founded in 1988 and privately owned, operates hotels, department stores, tourism and other businesses and says it had 2011 revenue of $16.7 billion. The company employs 50,000 people and its assets include 86 theaters in China.

    AMC's owners include Apollo Global Management, Bain Capital, the Carlyle Group, CCMP Capital Advisors and Spectrum Equity Investors.

    AMC has reported losses for the past three years but its CEO, Gerry Lopez, said it has returned to profit this year due to strong ticket sales.

    Wang, the Wanda chairman, said AMC's financial problems were due to the cost of servicing high debt. He said conditions should improve once an injection of Wanda's cash allows it to pay off some of that.

    "We are confident that after the merger, AMC will turn positive," he said. "We have absolute confidence in the future of the company."

    Wanda's investment will allow AMC to speed up renovation of some cinemas and install more 3-D and IMAX technology, Lopez said.

    Wang and Lopez said the two companies plan to share experience in the film business and will have executives from each country visit the other. Lopez said they have not made detailed plans about such things as a possible exchange of staff.

    Lopez is to join the board of directors of Wanda's cinema unit, while a Wanda executive will join AMC's board, Wang said.

    Wang said Wanda is considering more acquisitions abroad for its entertainment, hotel and retail units. He said it might try to buy into a global hotel brand or a hotel management company but gave no details.

    "We want to be a big company, not just in China but in the world," he said.

    Read more here: http://www.miamiherald.com/2012/05/2...#storylink=cpy

    This news saves me some money this summer.

  2. #2
    Baluchitherium sisca's Avatar
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    06.12.16 @ 07:51 PM
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    Well that's nice. Before long, the white stripes in our flag will be red as well. This country is selling the fuck out, and no one seems to care.
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    Originally posted by FORD
    History tells us that oppressive nations build walls to keep people IN, not out.
    (See "Berlin Wall" and "Likud Israel" for examples) FORD- when i told him i'd build a wall between the US and Mexico.

    then ill build it from the mexican side. -my reply.

  3. #3
    Atomic Punk edwardv's Avatar
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    12.16.17 @ 11:32 PM
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    We already sold out Sisca. Apple,Dell,HP,Solar,Air Conditioning,Heat,Food Machinery,Construction Tools,etc. How about 400 million jobs!
    EVH 1979: Well, actually it's not much of a vacation, because we run everything ourselves. We design our own album cover, we have to be in the office every day to sign checks - the whole corporation revolves around us. Nothing can be done without our approval. We even have photo approval.

  4. #4
    Good Enough pal1800's Avatar
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    Not good at all. Something has to change and soon.

  5. #5
    Atomic Punk Dave's Dreidel's Avatar
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    12.17.17 @ 06:08 AM
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    It won't change.

    The US is on decline, and I don't see it stopping. In fifty years we are going to be a big version of France.
    Taylor Swift is nice to look at. Adele can sing.

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  6. #6
    Wear the fox hat... Filthy 150's Avatar
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    Now there is going to be lead in the popcorn.
    "Here's to swimmin' with bow legged women."
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  7. #7
    Hang 'Em High
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    Quote Originally Posted by Filthy 150 View Post
    Now there is going to be lead in the popcorn.
    And who knows what in the cooking oil, the salt, and the soft drink suryp ! ! !

    Before every movie, you'll now see a (3-D) "Newsreel" on the great advancements and contributions that China is now making to The World....

    Maybe the Chinese have perfected subliminal messaging.....

    Just try on these new Super-Duper 3-D Glasses made In China ! !


  8. #8
    Atomic Punk CaboChris's Avatar
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    Great! Press 1 for English, 2 for Spanish, 3 for Chinese.

  9. #9
    Atomic Punk fast98dodge's Avatar
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    I'll voice my opinion with my $$$... AMC won't get any of mine anymore...
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  10. #10
    Hang 'Em High
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    Quote Originally Posted by fast98dodge View Post
    I'll voice my opinion with my $$$... AMC won't get any of mine anymore...
    Well, they haven't taken over your local theater chain ... yet...

    Free Fortune Cookie with each film....

    What's in that ? ? ?


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  11. #11
    Atomic Punk bsbll4's Avatar
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    12.15.17 @ 12:23 PM
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    Oh well. I never really liked AMC anyway. Terrible butter flavoring for their popcorn.

    But that's the fat guy in me talking.
    CNN may think my opinion matters, but you shouldn't.

  12. #12
    Atomic Punk
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    Chinese companies often learn by imitating, then they grow. The process may turn out to be trickier in the entertainment world, where so much boils down to a sixth sense for taste. Buying up American know-how outright is a first step over that hurdle. That's why Chinese ownership is coming to a theater near you.

    http://www.theatlantic.com/business/...heater/257464/
    "Watch what people are cynical about, and one can often discover what they lack. -- Gen. George S. Patton

  13. #13
    Forum Frontman It's Mike's Avatar
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    get used to it guys, most of our biggest companies have been bought out by US companies. Granted, we don't hate you guys so it's a bit of a different dynamic. But if you want to encourage foreign investment then you have to be prepared for foreign ownership of many of your companies.

  14. #14
    Sinner's Swing!
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    Quote Originally Posted by Filthy 150 View Post
    Now there is going to be lead in the popcorn.
    Pretty sure they just put melamine in food now. It's cheaper, and coincidentally is more buttery tasting.

  15. #15
    Atomic Punk Dave's Dreidel's Avatar
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    The fact that we even trade with that fucking country is despicable to me.

    China, not Canada.
    Taylor Swift is nice to look at. Adele can sing.

    Emperor Brett - "I can't believe you guys are analyzing song-by-song Van Halen III? What next, analyzing the script of Stroker Ace looking for some shred of Citizen Kane?"

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