Founded in 1920 by Maurice, Edward, and Barney Dubinsky, AMC has the largest share of the U.S. theater market ahead of Cineworld and Cinemark Theatres making it the largest movie theater chain not just in the United States but the world. AMC has bought up plenty of other theater chains in its 100 years, amassing 385 theaters with 5,128 screens in six different countries, however, in 2012, it would be AMC’s turn to be taken over.
The chain would be purchased by the Dalian Wanda Group for $2.6 billion as the Chinese businessman Wang Jianlin who runs the group has long had a fascination with Hollywood and is far from new to the game as his group is China’s largest film distributor and as of January 2018, Wanda Cinema has 525 cinemas with 4648 screens across the world.
This wouldn’t be the group’s only foray into Hollywood as in 2016, they would add a studio to their portfolio, more on that on the next page. They would also spend $1.2 billion on acquiring Carmike Cinemas to bolster its presence in the American entertainment industry. They wouldn’t have it entirely their own way.
In the same year they bought Carmike Cinemas and the production company we will be discussing next, they would also try and purchase a large chunk of Paramount Pictures. Paramount’s parent company Viacom, would roundly reject the deal despite the money that was being thrown at them.