China’s second largest exhibitor Dadi Cinemas has acquired the cinema operation of Orange Sky Golden Harvest (OSGH) in China in a deal worth CNY ¥3.387 billion (USD $492 million) divided into three transaction segments. The move is a serious challenge to China’s market leader Wanda and a boost for Dadi investors Huayi Brothers and Alibaba Pictures. OSGH has 76 multiplexes with 531 screens across 36 cities, with attendance of 24.6 million and BO of CNY ¥808 million (USD $117 million) last year.
Source: Dadi Challenges Wanda With $0.5bn China Cinema Acquisition – Celluloid Junkie