Authors: Joshua Cohan
(KANSAS CITY, Mo.) -- Chinese conglomerate Dalian Wanda Group has agreed to purchase American movie theater operator AMC Entertainment Holdings for $2.6 billion – a deal being described as the largest single Chinese takeover of a U.S.-based company.
The transaction will create the world’s largest movie theater owner, the companies said in announcing the deal.
AMC operates nearly 350 multiplex theaters in North America and employs approximately 18,500 people.
“The transaction,” the company said, “is not expected to have an impact on employee levels at AMC.”
Copyright 2012 ABC News Radio