Wanda readies AMC cinemas for close-up
By Chen Weihua in Washington | China Daily | Updated: 2013-01-19 08:13
Moviegoers in the United States might be unaware of last year's ownership change at AMC theaters, but an impending chain-wide upgrade featuring 3-D movies and snazzier food options could grab their attention.
As part of its $2.6 billion acquisition of AMC Entertainment Holdings Inc, completed in September, China-based Dalian Wanda Group Co has promised to spend $500 million to refurbish AMC cinemas over the next four years and reduce debt in the US company.
"AMC is in the process of updating its circuit from coast to coast through this acquisition, as well as enhancements such as our AMC Dine-In Theatres, improved sight and sound, new concession areas and options, and better seating," company spokesman Ryan Noonan says.
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