China's Wanda buying US cinema chain AMC for $2.6

[Forever Sunshine]

Chinese conglomerate Dalian Wanda Group agreed to buy AMC Entertainment for $2.6 billion, including debt, making it the biggest theater operator in the United States.

The deal, the largest overseas acquisition by a privately held Chinese company, reflects the warming ties between the U.S. and Chinese movie industries after China agreed in February to open its cinemas to more American films.

The purchase will mark Wanda's first investment outside of China and its first foray into the United States and Canada, the world's biggest film market with ticket sales of $10.2 billion. Chinese cinemas trailed with $2.1 billion in revenue last year.

marketday.msnbc.msn.com/_news/2012/05/21/11790657-chinas-wanda-buying-us-cinema-chain-amc-for-26-billion?lite

[ShadowsGathered]

I don't believe this is good for U.S. business... if we let too many foreign companies come in here and buy up our companies, pretty soon this won't be America anymore... it'll be co-owned by God knows how many other countries... JMHO.

[Forever Sunshine]

Shads? Is that you? OMG! How are ya?

I agree. But, so many have been saying it's just a matter of time before we're called Little China or China II. Seems inevitable.