The Beijing-based company now owns more than 10 percent of the world’s cinema screens.
Dalian Wanda Group continued to push its dominant position as the world’s leading cinema exhibitor with the acquisition of over 400 more screens, buying Nordic Cinema Group for US$929 million.
It is Wanda’s US cinema arm, AMC Entertainment, that is officially making the cash buy. Nordic operates in seven countries — Sweden, Finland, Estonia, Latvia, Lithuania, Norway, and Denmark — holding stakes in a total of 118 theaters and 463 screens.
The acquisition extends AMC Entertainment’s position as the largest exhibitor in the world, the United States, and Europe, respectively, the company said in a statement.
After the acquisition, AMC Entertainment will operate over 1,000 cinemas and 11,000 screens in 15 countries, giving it control of about 12 percent of the world’s screens.