BEIING, Jan. 26 (Xinhua) -- Chinese conglomerate Wanda Group said its US-based AMC Theatres chain will buy the Nordic region's largest cinema operator for $930 million, further expanding the company's world-beating cinema empire.
Wanda said late Monday that the acquisition of Stockholm-based Nordic Cinema Group Holding AB brings the Chinese property-to-entertainment giant "one step closer to reaching the goal of taking 20 percent of the world's film-market share."
"The combination with Nordic will result in AMC's hitting the never-before-reached milestone of 1,000 theaters and 11,000 screens in 15 countries," a Wanda statement said.
The deal follows its $1.2 billion bid last summer for AMC's American rival Carmike, and another $1.2 billion takeover of Europe's biggest movie theater Odeon and UCI Cinema, which was finalized on November 30.
Chinese companies have been snapping up leading filmmakers and television producers as the government encourages domestic companies to go abroad in search of better returns and greater international influence.
But the trend has raised concerns among US legislators, who fear that Chinese companies, which often have close ties to government, may use their growing influence to block criticism of that nation's government. (Global Times)
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