Dalian Wanda Group
In May 2012, AMC Theatres was acquired by Chinese conglomerate Wanda Group, headquartered in Dalian, who paid $2.6 billion to acquire AMC's 5,048 screens in 347 theaters in the U.S. and Canada. The deal was finalized on September 4, 2012. The acquisition made Wanda the world's largest cinema chain. Wang Jianlin, CEO of Dalian Wanda Group, announced that the company would plan to spend $500 million renovating AMC locations.