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Dalian Wanda Group, a Chinese conglomerate, said in a statement that it had reached an agreement to acquire AMC’s 5,034 screens in 346 theaters in the U.S. and Canada. The Kansas City, Mo., theater chain is owned by several investment firms, including JPMorgan Partners, Apollo Investment Fund and Bain Capital Investors.
The transaction is valued at $2.6 billion and would create the world's largest cinema owner, the companies said in a statement.
The AMC acquisition fits China’s strategy of forming alliances with American companies to expand its homegrown entertainment industry and to cater to a burgeoning middle class to extend its global influence or “soft power.”
bur·geon also bour·geon (bûrjn)
intr.v. bur·geoned also bour·geoned, bur·geon·ing also bour·geon·ing, bur·geons also bour·geons
a. To put forth new buds, leaves, or greenery; sprout.
b. To begin to grow or blossom.
2. To grow or develop rapidly.
In any event, this is a trend that is rapidly accelerating and that is causing great concern among patriotic Americans.