Undeterred by the current state of the industry, and despite posting a $668M profit loss for 2019, China’s Wanda Film is betting big on the local theatrical business. The division of Dalian Wanda Group said that it intends to spend about $431M raised in a non-public offering of A shares to build more Middle Kingdom movie theaters over the next two years. This comes at a time when the parent company recently declared bankruptcy speculation about its AMC Entertainment as “pure rumors.”
Read more: https://deadline.com/2020/04/china-wanda-film-build-new-movie-theaters-coronavirus-1202918500/