Strategic contraction has been the main theme for Wang Jianlin and Wanda in recent years.
On May 23, Wanda Group announced that in May 2012, it acquired 100% of AMC Entertainment for USD 7 billion. In line with Wanda’s 'focus on domestic' strategy, starting from 2018, Wanda $Ruyi Film Entertainment (002739.SZ)$began gradually exiting from AMC Entertainment. $AMC Entertainment (AMC.US)$By May 2021, Wanda Group had completely exited from the board of directors of AMC Entertainment, retaining only a minority stake. It had cumulatively recouped USD 1.476 billion (approximately RMB 9.5 billion). $AMC Entertainment (AMC.US)$In other words, did Wanda make a profit of USD 776 million (approximately RMB 5 billion) from this deal?
In other words, did Wanda make a profit of USD 776 million (approximately RMB 5 billion) from this deal?
Subsequently, Adam Aron, CEO and President of AMC Entertainment, expressed gratitude for Wanda's decade-long partnership.
He stated, 'Wanda has been part of AMC Entertainment's history for nearly a decade. During its ownership, AMC became the largest cinema operator in the world. Importantly, Wanda also supported the reinvestment of billions of dollars into the theater chain to upgrade and enhance the cinema network for the benefit of moviegoers.'
In fact, starting from 2018, China's film market underwent significant changes.
The previous model of film production dominated by IPs and celebrities faced resistance, with audiences increasingly focusing on quality films and truly valuing content...