The Associated Press is reporting that Chinese conglomerate Dalian Wanda Group Co. is buying AMC Theaters for $2.6 billion, creating the world's biggest movie theater operator. AMC operate the movie theater complex at Downtown Disney.
The new Chinese owners will invest an additional $500 million to fund AMC's future development. AMC operates 346 cinemas, mostly in the United States and Canada, and says it has 23 of the 50 highest-grossing U.S. outlets.
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May 21, 2012 / 11:02am EDT