AMC’s Chinese Owner Gives Up Control Over World’s Largest Cinema Chain

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AMC’s Chinese Owner Gives Up Control Over World’s Largest Cinema Chain

Bloomberg2021-03-15

Wanda’s stake in AMC Entertainment cut to 9.8% as of March Theater chain reported record loss of $4.6 billion for 2020 Dalian Wanda Group Co., the conglomerate founded by Chinese billionaire Wang ...

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xoxoll
·2021-03-15
Help me to comment and like
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- Yagami:
  gogo
  2021-03-15
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- TJKE:
  Liked
  2021-03-15
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Allenchang
·2021-03-15
Like and comment
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- xoxoll:
  Help me to lIke and comment
  2021-03-15
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DC9999
·2021-03-15
Wow
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Neuro
·2021-03-15
Wow amazing!
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Jimmy365
·2021-03-15
Okok
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JulianAlson
·2021-03-15
Changing into cash first maybe when the revenuecome back they will come back?
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kt888
·2021-03-15
...
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XiaoYao86
·2021-03-15
need a like
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- XiaoYao86:
  Thx
  2021-03-15
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- nakazatousReplying toXiaoYao86:
  Ok
  2021-03-15
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- XiaoYao86:
  Thx =)
  2021-03-15
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kevinlaisq
·2021-03-15
Please comment and share if this share is overhype
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- Jkrapido:
  Amc is a good stock
  2021-03-15
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- Kok:
  ok
  2021-03-15
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Nisnivlek
·2021-03-15
AMC never die
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- Moneyface:
  Yes
  2021-03-15
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BYLI
·2021-03-15
Wow, what happened
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kohaku84
·2021-03-15
Ohh
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RyKee
·2021-03-15
Great...
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nihaomao
·2021-03-15
Wow how possible
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DanTEOHH
·2021-03-15
Like please
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- Lty1098:
  Thanks
  2021-03-16
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- Teslawonder:
  Wow AMC
  Hi pls like and comment on my posts too.
  2021-03-16
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- Lty1098Replying toKok:
  Ok
  2021-03-15
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Zhenghao
·2021-03-15
Ohhh
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KinKat
·2021-03-15
Smart move!
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The group continues to be AMC’s largest shareholder, the cinema chain’s Chief Executive Officer Adam Aron said in an earnings call. As of October, Wanda had held 37.7% of the Leawood, Kansas-based company and 64.5% of its voting power.\nWanda’s dwindling holdings in AMC marks further contraction of the group’s operations outside of China after it sold its last overseas real estate project in Chicago last year. The company, spanning malls, films, sports and theme parks, was among Chinese conglomerates that accumulated some of the world’s largest debts after paying top prices for overseas trophy assets. The conglomerate has been slimming down aggressively since 2017 to pare debt.\n“With no controlling shareholder in place, now, AMC will be governed, just as most other publicly traded companies, with a wide array of shareholders,” Aron said during the call.\nThe core businesses of Wanda have been hit by lockdowns and other pandemic-induced restrictions. AMC racked up the record loss after theater attendance plummeted over 90%. The cinema chain has raised more than $1 billion since December to keep itself afloat and has cut all non-essential spending.\nWanda cut its stake in AMC to 23.1% by the end of December, with a voting power of 47.4%. In February, the group converted all outstanding Class B common stock to Class A common stock, resulting in further downsizing of its holdings, according to the annual report.\nThe group may still have significant influence over AMC’s management because it sill has two board seats, according to the statement and Aron.\nAMC’s stock has surged more than fivefold this year to $11.16,fueled by an investment frenzy led by Reddit users.\nAt the height of its overseas expansion, Wanda bought landmark assets including Spanish soccer club Atletico Madrid, Hollywood studio Legendary Entertainment and luxury real estates in Beverly Hills and London. Most of these assets have been disposed of. 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The group continues to be AMC’s largest shareholder, the cinema chain’s Chief Executive Officer Adam Aron said in an earnings call. As of October, Wanda had held 37.7% of the Leawood, Kansas-based company and 64.5% of its voting power.</p>\n<p>Wanda’s dwindling holdings in AMC marks further contraction of the group’s operations outside of China after it&nbsp;sold&nbsp;its last overseas real estate project in Chicago last year. The company, spanning malls, films, sports and theme parks, was among Chinese conglomerates that accumulated some of the world’s largest debts after paying top prices for overseas trophy assets. The conglomerate has been slimming down aggressively since 2017 to pare debt.</p>\n<p>“With no controlling shareholder in place, now, AMC will be governed, just as most other publicly traded companies, with a wide array of shareholders,” Aron said during the call.</p>\n<p>The core businesses of Wanda have been hit by lockdowns and other pandemic-induced restrictions. AMC racked up the record loss after theater attendance plummeted over 90%. The cinema chain has raised more than $1 billion since December to keep itself afloat and has cut all non-essential spending.</p>\n<p>Wanda cut its stake in AMC to 23.1% by the end of December, with a voting power of 47.4%. In February, the group converted all outstanding Class B common stock to Class A common stock, resulting in further downsizing of its holdings, according to the annual report.</p>\n<p>The group may still have significant influence over AMC’s management because it sill has two board seats, according to the statement and Aron.</p>\n<p>AMC’s stock has surged more than fivefold this year to $11.16,fueled&nbsp;by an investment frenzy led by Reddit users.</p>\n<p>At the height of its overseas expansion, Wanda bought landmark assets including Spanish soccer club Atletico Madrid, Hollywood studio&nbsp;Legendary Entertainment&nbsp;and luxury real estates in Beverly Hills and London. Most of these assets have been disposed of. Last year, Wanda also sold its Ironman triathlon business for $730 million.</p>","source":"lsy1584095487587","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>AMC’s Chinese Owner Gives Up Control Over World’s Largest Cinema Chain</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nAMC’s Chinese Owner Gives Up Control Over World’s Largest Cinema Chain\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-03-15 11:54 GMT+8&nbsp;&nbsp;&nbsp;<a href=http://bloomberg.com/news/articles/2021-03-15/amc-s-chinese-owner-gives-up-control-over-largest-cinema-chain?srnd=premium-asia><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Wanda’s stake in AMC Entertainment cut to 9.8% as of March\nTheater chain reported record loss of $4.6 billion for 2020\n\nDalian Wanda Group Co., the conglomerate founded by Chinese billionaire Wang ...</p>\n\n<a href=\"http://bloomberg.com/news/articles/2021-03-15/amc-s-chinese-owner-gives-up-control-over-largest-cinema-chain?srnd=premium-asia\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"AMC":"AMC院线"},"source_url":"http://bloomberg.com/news/articles/2021-03-15/amc-s-chinese-owner-gives-up-control-over-largest-cinema-chain?srnd=premium-asia","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1166656113","content_text":"Wanda’s stake in AMC Entertainment cut to 9.8% as of March\nTheater chain reported record loss of $4.6 billion for 2020\n\nDalian Wanda Group Co., the conglomerate founded by Chinese billionaire Wang Jianlin, has given up its majority control over AMC Entertainment Holdings Inc. after the world’s largest cinema chain reported a record loss of $4.6 billion for 2020 amid repeated warnings of insolvency.\nWanda, which bought AMC in 2012 for $2.6 billion, cut its stake and voting power in the company to 9.8% as of March 3, AMC said in its annual report. The group continues to be AMC’s largest shareholder, the cinema chain’s Chief Executive Officer Adam Aron said in an earnings call. As of October, Wanda had held 37.7% of the Leawood, Kansas-based company and 64.5% of its voting power.\nWanda’s dwindling holdings in AMC marks further contraction of the group’s operations outside of China after it sold its last overseas real estate project in Chicago last year. The company, spanning malls, films, sports and theme parks, was among Chinese conglomerates that accumulated some of the world’s largest debts after paying top prices for overseas trophy assets. The conglomerate has been slimming down aggressively since 2017 to pare debt.\n“With no controlling shareholder in place, now, AMC will be governed, just as most other publicly traded companies, with a wide array of shareholders,” Aron said during the call.\nThe core businesses of Wanda have been hit by lockdowns and other pandemic-induced restrictions. AMC racked up the record loss after theater attendance plummeted over 90%. The cinema chain has raised more than $1 billion since December to keep itself afloat and has cut all non-essential spending.\nWanda cut its stake in AMC to 23.1% by the end of December, with a voting power of 47.4%. In February, the group converted all outstanding Class B common stock to Class A common stock, resulting in further downsizing of its holdings, according to the annual report.\nThe group may still have significant influence over AMC’s management because it sill has two board seats, according to the statement and Aron.\nAMC’s stock has surged more than fivefold this year to $11.16,fueled by an investment frenzy led by Reddit users.\nAt the height of its overseas expansion, Wanda bought landmark assets including Spanish soccer club Atletico Madrid, Hollywood studio Legendary Entertainment and luxury real estates in Beverly Hills and London. Most of these assets have been disposed of. Last year, Wanda also sold its Ironman triathlon business for $730 million.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":3798991,"gmtCreate":1615808571101,"gmtModify":1680780433909,"authorId":3557383846065950,"author":{"id":3557383846065950,"authorId":3557383846065950,"name":"Yagami","avatar":"https://static.tigerbbs.com/75715a6be809adb20122e1ffecfdbe45","vip":1,"crmLevel":3,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":322150292,"type":1,"supId":0,"prevId":0,"content":"<u>gogo</u>","text":"<u>gogo</u>","html":"<u>gogo</u>"},{"id":3796407,"gmtCreate":1615785946247,"gmtModify":1680780396221,"authorId":3575284570991838,"author":{"id":3575284570991838,"authorId":3575284570991838,"name":"TJKE","avatar":"https://static.tigerbbs.com/95e8ee10293b34fe4285a9c7270a10b6","vip":1,"crmLevel":2,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":322150292,"type":1,"supId":0,"prevId":0,"content":"Liked","text":"Liked","html":"Liked"}],"langContent":"EN"},{"id":322126950,"gmtCreate":1615785214770,"gmtModify":1704786456363,"author":{"id":"3574228994035411","authorId":"3574228994035411","name":"Allenchang","avatar":"https://static.tigerbbs.com/bf64d942e55f3c756282ca09ce5d0be6","vip":1,"crmLevel":5,"crmLevelSwitch":0},"htmlText":"Like and comment&nbsp;","listText":"Like and comment&nbsp;","text":"Like and comment","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/322126950","repostId":1166656113,"repostType":2,"repost":{"id":"1166656113","pubTimestamp":1615780492,"share":"https://www.laohu8.com/m/news/1166656113?lang=&edition=full","pubTime":"2021-03-15 11:54","market":"us","language":"en","title":"AMC’s Chinese Owner Gives Up Control Over World’s Largest Cinema Chain","url":"https://stock-news.laohu8.com/highlight/detail?id=1166656113","media":"Bloomberg","summary":"Wanda’s stake in AMC Entertainment cut to 9.8% as of March\nTheater chain reported record loss of $4.","content":"<ul>\n <li>Wanda’s stake in AMC Entertainment cut to 9.8% as of March</li>\n <li>Theater chain reported record loss of $4.6 billion for 2020</li>\n</ul>\n<p>Dalian Wanda Group Co., the conglomerate founded by Chinese billionaire Wang Jianlin, has given up its majority control over&nbsp;AMC Entertainment Holdings Inc.&nbsp;after the world’s largest cinema chain reported a record loss of $4.6 billion for 2020 amid repeated warnings of insolvency.</p>\n<p>Wanda, which&nbsp;bought&nbsp;AMC in 2012 for $2.6 billion, cut its stake and voting power in the company to 9.8% as of March 3, AMC said in its annual report. The group continues to be AMC’s largest shareholder, the cinema chain’s Chief Executive Officer Adam Aron said in an earnings call. As of October, Wanda had held 37.7% of the Leawood, Kansas-based company and 64.5% of its voting power.</p>\n<p>Wanda’s dwindling holdings in AMC marks further contraction of the group’s operations outside of China after it&nbsp;sold&nbsp;its last overseas real estate project in Chicago last year. The company, spanning malls, films, sports and theme parks, was among Chinese conglomerates that accumulated some of the world’s largest debts after paying top prices for overseas trophy assets. The conglomerate has been slimming down aggressively since 2017 to pare debt.</p>\n<p>“With no controlling shareholder in place, now, AMC will be governed, just as most other publicly traded companies, with a wide array of shareholders,” Aron said during the call.</p>\n<p>The core businesses of Wanda have been hit by lockdowns and other pandemic-induced restrictions. AMC racked up the record loss after theater attendance plummeted over 90%. The cinema chain has raised more than $1 billion since December to keep itself afloat and has cut all non-essential spending.</p>\n<p>Wanda cut its stake in AMC to 23.1% by the end of December, with a voting power of 47.4%. In February, the group converted all outstanding Class B common stock to Class A common stock, resulting in further downsizing of its holdings, according to the annual report.</p>\n<p>The group may still have significant influence over AMC’s management because it sill has two board seats, according to the statement and Aron.</p>\n<p>AMC’s stock has surged more than fivefold this year to $11.16,fueled&nbsp;by an investment frenzy led by Reddit users.</p>\n<p>At the height of its overseas expansion, Wanda bought landmark assets including Spanish soccer club Atletico Madrid, Hollywood studio&nbsp;Legendary Entertainment&nbsp;and luxury real estates in Beverly Hills and London. Most of these assets have been disposed of. Last year, Wanda also sold its Ironman triathlon business for $730 million.</p>","source":"lsy1584095487587","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>AMC’s Chinese Owner Gives Up Control Over World’s Largest Cinema Chain</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nAMC’s Chinese Owner Gives Up Control Over World’s Largest Cinema Chain\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-03-15 11:54 GMT+8&nbsp;&nbsp;&nbsp;<a href=http://bloomberg.com/news/articles/2021-03-15/amc-s-chinese-owner-gives-up-control-over-largest-cinema-chain?srnd=premium-asia><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Wanda’s stake in AMC Entertainment cut to 9.8% as of March\nTheater chain reported record loss of $4.6 billion for 2020\n\nDalian Wanda Group Co., the conglomerate founded by Chinese billionaire Wang ...</p>\n\n<a href=\"http://bloomberg.com/news/articles/2021-03-15/amc-s-chinese-owner-gives-up-control-over-largest-cinema-chain?srnd=premium-asia\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"AMC":"AMC院线"},"source_url":"http://bloomberg.com/news/articles/2021-03-15/amc-s-chinese-owner-gives-up-control-over-largest-cinema-chain?srnd=premium-asia","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1166656113","content_text":"Wanda’s stake in AMC Entertainment cut to 9.8% as of March\nTheater chain reported record loss of $4.6 billion for 2020\n\nDalian Wanda Group Co., the conglomerate founded by Chinese billionaire Wang Jianlin, has given up its majority control over AMC Entertainment Holdings Inc. after the world’s largest cinema chain reported a record loss of $4.6 billion for 2020 amid repeated warnings of insolvency.\nWanda, which bought AMC in 2012 for $2.6 billion, cut its stake and voting power in the company to 9.8% as of March 3, AMC said in its annual report. The group continues to be AMC’s largest shareholder, the cinema chain’s Chief Executive Officer Adam Aron said in an earnings call. As of October, Wanda had held 37.7% of the Leawood, Kansas-based company and 64.5% of its voting power.\nWanda’s dwindling holdings in AMC marks further contraction of the group’s operations outside of China after it sold its last overseas real estate project in Chicago last year. The company, spanning malls, films, sports and theme parks, was among Chinese conglomerates that accumulated some of the world’s largest debts after paying top prices for overseas trophy assets. The conglomerate has been slimming down aggressively since 2017 to pare debt.\n“With no controlling shareholder in place, now, AMC will be governed, just as most other publicly traded companies, with a wide array of shareholders,” Aron said during the call.\nThe core businesses of Wanda have been hit by lockdowns and other pandemic-induced restrictions. AMC racked up the record loss after theater attendance plummeted over 90%. The cinema chain has raised more than $1 billion since December to keep itself afloat and has cut all non-essential spending.\nWanda cut its stake in AMC to 23.1% by the end of December, with a voting power of 47.4%. In February, the group converted all outstanding Class B common stock to Class A common stock, resulting in further downsizing of its holdings, according to the annual report.\nThe group may still have significant influence over AMC’s management because it sill has two board seats, according to the statement and Aron.\nAMC’s stock has surged more than fivefold this year to $11.16,fueled by an investment frenzy led by Reddit users.\nAt the height of its overseas expansion, Wanda bought landmark assets including Spanish soccer club Atletico Madrid, Hollywood studio Legendary Entertainment and luxury real estates in Beverly Hills and London. Most of these assets have been disposed of. Last year, Wanda also sold its Ironman triathlon business for $730 million.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":3796394,"gmtCreate":1615785802644,"gmtModify":1680780392110,"authorId":3572249185724220,"author":{"id":3572249185724220,"authorId":3572249185724220,"name":"xoxoll","avatar":"https://static.tigerbbs.com/8ed65c2962af2a6fbd414f4d6fe9e378","vip":1,"crmLevel":2,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":322126950,"type":1,"supId":0,"prevId":0,"content":"Help me to lIke and comment ","text":"Help me to lIke and comment ","html":"Help me to lIke and comment "}],"langContent":"EN"},{"id":322126045,"gmtCreate":1615785210087,"gmtModify":1704786453882,"author":{"id":"3574806246814672","authorId":"3574806246814672","name":"DC9999","avatar":"https://static.tigerbbs.com/eba9b04ff8eac8415c9dc1c2ab0d5ed2","vip":1,"crmLevel":2,"crmLevelSwitch":0},"htmlText":"Wow","listText":"Wow","text":"Wow","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/322126045","repostId":1166656113,"repostType":4,"repost":{"id":"1166656113","pubTimestamp":1615780492,"share":"https://www.laohu8.com/m/news/1166656113?lang=&edition=full","pubTime":"2021-03-15 11:54","market":"us","language":"en","title":"AMC’s Chinese Owner Gives Up Control Over World’s Largest Cinema Chain","url":"https://stock-news.laohu8.com/highlight/detail?id=1166656113","media":"Bloomberg","summary":"Wanda’s stake in AMC Entertainment cut to 9.8% as of March\nTheater chain reported record loss of $4.","content":"<ul>\n <li>Wanda’s stake in AMC Entertainment cut to 9.8% as of March</li>\n <li>Theater chain reported record loss of $4.6 billion for 2020</li>\n</ul>\n<p>Dalian Wanda Group Co., the conglomerate founded by Chinese billionaire Wang Jianlin, has given up its majority control over&nbsp;AMC Entertainment Holdings Inc.&nbsp;after the world’s largest cinema chain reported a record loss of $4.6 billion for 2020 amid repeated warnings of insolvency.</p>\n<p>Wanda, which&nbsp;bought&nbsp;AMC in 2012 for $2.6 billion, cut its stake and voting power in the company to 9.8% as of March 3, AMC said in its annual report. The group continues to be AMC’s largest shareholder, the cinema chain’s Chief Executive Officer Adam Aron said in an earnings call. As of October, Wanda had held 37.7% of the Leawood, Kansas-based company and 64.5% of its voting power.</p>\n<p>Wanda’s dwindling holdings in AMC marks further contraction of the group’s operations outside of China after it&nbsp;sold&nbsp;its last overseas real estate project in Chicago last year. The company, spanning malls, films, sports and theme parks, was among Chinese conglomerates that accumulated some of the world’s largest debts after paying top prices for overseas trophy assets. The conglomerate has been slimming down aggressively since 2017 to pare debt.</p>\n<p>“With no controlling shareholder in place, now, AMC will be governed, just as most other publicly traded companies, with a wide array of shareholders,” Aron said during the call.</p>\n<p>The core businesses of Wanda have been hit by lockdowns and other pandemic-induced restrictions. AMC racked up the record loss after theater attendance plummeted over 90%. The cinema chain has raised more than $1 billion since December to keep itself afloat and has cut all non-essential spending.</p>\n<p>Wanda cut its stake in AMC to 23.1% by the end of December, with a voting power of 47.4%. In February, the group converted all outstanding Class B common stock to Class A common stock, resulting in further downsizing of its holdings, according to the annual report.</p>\n<p>The group may still have significant influence over AMC’s management because it sill has two board seats, according to the statement and Aron.</p>\n<p>AMC’s stock has surged more than fivefold this year to $11.16,fueled&nbsp;by an investment frenzy led by Reddit users.</p>\n<p>At the height of its overseas expansion, Wanda bought landmark assets including Spanish soccer club Atletico Madrid, Hollywood studio&nbsp;Legendary Entertainment&nbsp;and luxury real estates in Beverly Hills and London. Most of these assets have been disposed of. Last year, Wanda also sold its Ironman triathlon business for $730 million.</p>","source":"lsy1584095487587","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>AMC’s Chinese Owner Gives Up Control Over World’s Largest Cinema Chain</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nAMC’s Chinese Owner Gives Up Control Over World’s Largest Cinema Chain\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-03-15 11:54 GMT+8&nbsp;&nbsp;&nbsp;<a href=http://bloomberg.com/news/articles/2021-03-15/amc-s-chinese-owner-gives-up-control-over-largest-cinema-chain?srnd=premium-asia><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Wanda’s stake in AMC Entertainment cut to 9.8% as of March\nTheater chain reported record loss of $4.6 billion for 2020\n\nDalian Wanda Group Co., the conglomerate founded by Chinese billionaire Wang ...</p>\n\n<a href=\"http://bloomberg.com/news/articles/2021-03-15/amc-s-chinese-owner-gives-up-control-over-largest-cinema-chain?srnd=premium-asia\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"AMC":"AMC院线"},"source_url":"http://bloomberg.com/news/articles/2021-03-15/amc-s-chinese-owner-gives-up-control-over-largest-cinema-chain?srnd=premium-asia","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1166656113","content_text":"Wanda’s stake in AMC Entertainment cut to 9.8% as of March\nTheater chain reported record loss of $4.6 billion for 2020\n\nDalian Wanda Group Co., the conglomerate founded by Chinese billionaire Wang Jianlin, has given up its majority control over AMC Entertainment Holdings Inc. after the world’s largest cinema chain reported a record loss of $4.6 billion for 2020 amid repeated warnings of insolvency.\nWanda, which bought AMC in 2012 for $2.6 billion, cut its stake and voting power in the company to 9.8% as of March 3, AMC said in its annual report. The group continues to be AMC’s largest shareholder, the cinema chain’s Chief Executive Officer Adam Aron said in an earnings call. As of October, Wanda had held 37.7% of the Leawood, Kansas-based company and 64.5% of its voting power.\nWanda’s dwindling holdings in AMC marks further contraction of the group’s operations outside of China after it sold its last overseas real estate project in Chicago last year. The company, spanning malls, films, sports and theme parks, was among Chinese conglomerates that accumulated some of the world’s largest debts after paying top prices for overseas trophy assets. The conglomerate has been slimming down aggressively since 2017 to pare debt.\n“With no controlling shareholder in place, now, AMC will be governed, just as most other publicly traded companies, with a wide array of shareholders,” Aron said during the call.\nThe core businesses of Wanda have been hit by lockdowns and other pandemic-induced restrictions. AMC racked up the record loss after theater attendance plummeted over 90%. The cinema chain has raised more than $1 billion since December to keep itself afloat and has cut all non-essential spending.\nWanda cut its stake in AMC to 23.1% by the end of December, with a voting power of 47.4%. In February, the group converted all outstanding Class B common stock to Class A common stock, resulting in further downsizing of its holdings, according to the annual report.\nThe group may still have significant influence over AMC’s management because it sill has two board seats, according to the statement and Aron.\nAMC’s stock has surged more than fivefold this year to $11.16,fueled by an investment frenzy led by Reddit users.\nAt the height of its overseas expansion, Wanda bought landmark assets including Spanish soccer club Atletico Madrid, Hollywood studio Legendary Entertainment and luxury real estates in Beverly Hills and London. Most of these assets have been disposed of. Last year, Wanda also sold its Ironman triathlon business for $730 million.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":322165062,"gmtCreate":1615784233656,"gmtModify":1704786441419,"author":{"id":"3574827980467236","authorId":"3574827980467236","name":"Neuro","avatar":"https://static.tigerbbs.com/62d011e4942b3984b40608a703085609","vip":1,"crmLevel":2,"crmLevelSwitch":0},"htmlText":"Wow amazing!","listText":"Wow amazing!","text":"Wow amazing!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/322165062","repostId":1166656113,"repostType":4,"repost":{"id":"1166656113","pubTimestamp":1615780492,"share":"https://www.laohu8.com/m/news/1166656113?lang=&edition=full","pubTime":"2021-03-15 11:54","market":"us","language":"en","title":"AMC’s Chinese Owner Gives Up Control Over World’s Largest Cinema Chain","url":"https://stock-news.laohu8.com/highlight/detail?id=1166656113","media":"Bloomberg","summary":"Wanda’s stake in AMC Entertainment cut to 9.8% as of March\nTheater chain reported record loss of $4.","content":"<ul>\n <li>Wanda’s stake in AMC Entertainment cut to 9.8% as of March</li>\n <li>Theater chain reported record loss of $4.6 billion for 2020</li>\n</ul>\n<p>Dalian Wanda Group Co., the conglomerate founded by Chinese billionaire Wang Jianlin, has given up its majority control over&nbsp;AMC Entertainment Holdings Inc.&nbsp;after the world’s largest cinema chain reported a record loss of $4.6 billion for 2020 amid repeated warnings of insolvency.</p>\n<p>Wanda, which&nbsp;bought&nbsp;AMC in 2012 for $2.6 billion, cut its stake and voting power in the company to 9.8% as of March 3, AMC said in its annual report. The group continues to be AMC’s largest shareholder, the cinema chain’s Chief Executive Officer Adam Aron said in an earnings call. As of October, Wanda had held 37.7% of the Leawood, Kansas-based company and 64.5% of its voting power.</p>\n<p>Wanda’s dwindling holdings in AMC marks further contraction of the group’s operations outside of China after it&nbsp;sold&nbsp;its last overseas real estate project in Chicago last year. The company, spanning malls, films, sports and theme parks, was among Chinese conglomerates that accumulated some of the world’s largest debts after paying top prices for overseas trophy assets. The conglomerate has been slimming down aggressively since 2017 to pare debt.</p>\n<p>“With no controlling shareholder in place, now, AMC will be governed, just as most other publicly traded companies, with a wide array of shareholders,” Aron said during the call.</p>\n<p>The core businesses of Wanda have been hit by lockdowns and other pandemic-induced restrictions. AMC racked up the record loss after theater attendance plummeted over 90%. The cinema chain has raised more than $1 billion since December to keep itself afloat and has cut all non-essential spending.</p>\n<p>Wanda cut its stake in AMC to 23.1% by the end of December, with a voting power of 47.4%. In February, the group converted all outstanding Class B common stock to Class A common stock, resulting in further downsizing of its holdings, according to the annual report.</p>\n<p>The group may still have significant influence over AMC’s management because it sill has two board seats, according to the statement and Aron.</p>\n<p>AMC’s stock has surged more than fivefold this year to $11.16,fueled&nbsp;by an investment frenzy led by Reddit users.</p>\n<p>At the height of its overseas expansion, Wanda bought landmark assets including Spanish soccer club Atletico Madrid, Hollywood studio&nbsp;Legendary Entertainment&nbsp;and luxury real estates in Beverly Hills and London. Most of these assets have been disposed of. Last year, Wanda also sold its Ironman triathlon business for $730 million.</p>","source":"lsy1584095487587","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>AMC’s Chinese Owner Gives Up Control Over World’s Largest Cinema Chain</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nAMC’s Chinese Owner Gives Up Control Over World’s Largest Cinema Chain\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-03-15 11:54 GMT+8&nbsp;&nbsp;&nbsp;<a href=http://bloomberg.com/news/articles/2021-03-15/amc-s-chinese-owner-gives-up-control-over-largest-cinema-chain?srnd=premium-asia><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Wanda’s stake in AMC Entertainment cut to 9.8% as of March\nTheater chain reported record loss of $4.6 billion for 2020\n\nDalian Wanda Group Co., the conglomerate founded by Chinese billionaire Wang ...</p>\n\n<a href=\"http://bloomberg.com/news/articles/2021-03-15/amc-s-chinese-owner-gives-up-control-over-largest-cinema-chain?srnd=premium-asia\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"AMC":"AMC院线"},"source_url":"http://bloomberg.com/news/articles/2021-03-15/amc-s-chinese-owner-gives-up-control-over-largest-cinema-chain?srnd=premium-asia","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1166656113","content_text":"Wanda’s stake in AMC Entertainment cut to 9.8% as of March\nTheater chain reported record loss of $4.6 billion for 2020\n\nDalian Wanda Group Co., the conglomerate founded by Chinese billionaire Wang Jianlin, has given up its majority control over AMC Entertainment Holdings Inc. after the world’s largest cinema chain reported a record loss of $4.6 billion for 2020 amid repeated warnings of insolvency.\nWanda, which bought AMC in 2012 for $2.6 billion, cut its stake and voting power in the company to 9.8% as of March 3, AMC said in its annual report. The group continues to be AMC’s largest shareholder, the cinema chain’s Chief Executive Officer Adam Aron said in an earnings call. As of October, Wanda had held 37.7% of the Leawood, Kansas-based company and 64.5% of its voting power.\nWanda’s dwindling holdings in AMC marks further contraction of the group’s operations outside of China after it sold its last overseas real estate project in Chicago last year. The company, spanning malls, films, sports and theme parks, was among Chinese conglomerates that accumulated some of the world’s largest debts after paying top prices for overseas trophy assets. The conglomerate has been slimming down aggressively since 2017 to pare debt.\n“With no controlling shareholder in place, now, AMC will be governed, just as most other publicly traded companies, with a wide array of shareholders,” Aron said during the call.\nThe core businesses of Wanda have been hit by lockdowns and other pandemic-induced restrictions. AMC racked up the record loss after theater attendance plummeted over 90%. The cinema chain has raised more than $1 billion since December to keep itself afloat and has cut all non-essential spending.\nWanda cut its stake in AMC to 23.1% by the end of December, with a voting power of 47.4%. In February, the group converted all outstanding Class B common stock to Class A common stock, resulting in further downsizing of its holdings, according to the annual report.\nThe group may still have significant influence over AMC’s management because it sill has two board seats, according to the statement and Aron.\nAMC’s stock has surged more than fivefold this year to $11.16,fueled by an investment frenzy led by Reddit users.\nAt the height of its overseas expansion, Wanda bought landmark assets including Spanish soccer club Atletico Madrid, Hollywood studio Legendary Entertainment and luxury real estates in Beverly Hills and London. Most of these assets have been disposed of. Last year, Wanda also sold its Ironman triathlon business for $730 million.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":322188977,"gmtCreate":1615783147499,"gmtModify":1704786424524,"author":{"id":"3562019478826489","authorId":"3562019478826489","name":"Jimmy365","avatar":"https://static.tigerbbs.com/f0b5ef01e17ff83b62385dd919d36027","vip":1,"hat":"https://static.tigerbbs.com/b073a07f77dbe6b3bec6b12311fde6bd","crmLevel":4,"crmLevelSwitch":0},"htmlText":"Okok","listText":"Okok","text":"Okok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/322188977","repostId":1166656113,"repostType":2,"repost":{"id":"1166656113","pubTimestamp":1615780492,"share":"https://www.laohu8.com/m/news/1166656113?lang=&edition=full","pubTime":"2021-03-15 11:54","market":"us","language":"en","title":"AMC’s Chinese Owner Gives Up Control Over World’s Largest Cinema Chain","url":"https://stock-news.laohu8.com/highlight/detail?id=1166656113","media":"Bloomberg","summary":"Wanda’s stake in AMC Entertainment cut to 9.8% as of March\nTheater chain reported record loss of $4.","content":"<ul>\n <li>Wanda’s stake in AMC Entertainment cut to 9.8% as of March</li>\n <li>Theater chain reported record loss of $4.6 billion for 2020</li>\n</ul>\n<p>Dalian Wanda Group Co., the conglomerate founded by Chinese billionaire Wang Jianlin, has given up its majority control over&nbsp;AMC Entertainment Holdings Inc.&nbsp;after the world’s largest cinema chain reported a record loss of $4.6 billion for 2020 amid repeated warnings of insolvency.</p>\n<p>Wanda, which&nbsp;bought&nbsp;AMC in 2012 for $2.6 billion, cut its stake and voting power in the company to 9.8% as of March 3, AMC said in its annual report. The group continues to be AMC’s largest shareholder, the cinema chain’s Chief Executive Officer Adam Aron said in an earnings call. As of October, Wanda had held 37.7% of the Leawood, Kansas-based company and 64.5% of its voting power.</p>\n<p>Wanda’s dwindling holdings in AMC marks further contraction of the group’s operations outside of China after it&nbsp;sold&nbsp;its last overseas real estate project in Chicago last year. The company, spanning malls, films, sports and theme parks, was among Chinese conglomerates that accumulated some of the world’s largest debts after paying top prices for overseas trophy assets. The conglomerate has been slimming down aggressively since 2017 to pare debt.</p>\n<p>“With no controlling shareholder in place, now, AMC will be governed, just as most other publicly traded companies, with a wide array of shareholders,” Aron said during the call.</p>\n<p>The core businesses of Wanda have been hit by lockdowns and other pandemic-induced restrictions. AMC racked up the record loss after theater attendance plummeted over 90%. The cinema chain has raised more than $1 billion since December to keep itself afloat and has cut all non-essential spending.</p>\n<p>Wanda cut its stake in AMC to 23.1% by the end of December, with a voting power of 47.4%. In February, the group converted all outstanding Class B common stock to Class A common stock, resulting in further downsizing of its holdings, according to the annual report.</p>\n<p>The group may still have significant influence over AMC’s management because it sill has two board seats, according to the statement and Aron.</p>\n<p>AMC’s stock has surged more than fivefold this year to $11.16,fueled&nbsp;by an investment frenzy led by Reddit users.</p>\n<p>At the height of its overseas expansion, Wanda bought landmark assets including Spanish soccer club Atletico Madrid, Hollywood studio&nbsp;Legendary Entertainment&nbsp;and luxury real estates in Beverly Hills and London. Most of these assets have been disposed of. Last year, Wanda also sold its Ironman triathlon business for $730 million.</p>","source":"lsy1584095487587","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>AMC’s Chinese Owner Gives Up Control Over World’s Largest Cinema Chain</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nAMC’s Chinese Owner Gives Up Control Over World’s Largest Cinema Chain\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-03-15 11:54 GMT+8&nbsp;&nbsp;&nbsp;<a href=http://bloomberg.com/news/articles/2021-03-15/amc-s-chinese-owner-gives-up-control-over-largest-cinema-chain?srnd=premium-asia><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Wanda’s stake in AMC Entertainment cut to 9.8% as of March\nTheater chain reported record loss of $4.6 billion for 2020\n\nDalian Wanda Group Co., the conglomerate founded by Chinese billionaire Wang ...</p>\n\n<a href=\"http://bloomberg.com/news/articles/2021-03-15/amc-s-chinese-owner-gives-up-control-over-largest-cinema-chain?srnd=premium-asia\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"AMC":"AMC院线"},"source_url":"http://bloomberg.com/news/articles/2021-03-15/amc-s-chinese-owner-gives-up-control-over-largest-cinema-chain?srnd=premium-asia","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1166656113","content_text":"Wanda’s stake in AMC Entertainment cut to 9.8% as of March\nTheater chain reported record loss of $4.6 billion for 2020\n\nDalian Wanda Group Co., the conglomerate founded by Chinese billionaire Wang Jianlin, has given up its majority control over AMC Entertainment Holdings Inc. after the world’s largest cinema chain reported a record loss of $4.6 billion for 2020 amid repeated warnings of insolvency.\nWanda, which bought AMC in 2012 for $2.6 billion, cut its stake and voting power in the company to 9.8% as of March 3, AMC said in its annual report. The group continues to be AMC’s largest shareholder, the cinema chain’s Chief Executive Officer Adam Aron said in an earnings call. As of October, Wanda had held 37.7% of the Leawood, Kansas-based company and 64.5% of its voting power.\nWanda’s dwindling holdings in AMC marks further contraction of the group’s operations outside of China after it sold its last overseas real estate project in Chicago last year. The company, spanning malls, films, sports and theme parks, was among Chinese conglomerates that accumulated some of the world’s largest debts after paying top prices for overseas trophy assets. The conglomerate has been slimming down aggressively since 2017 to pare debt.\n“With no controlling shareholder in place, now, AMC will be governed, just as most other publicly traded companies, with a wide array of shareholders,” Aron said during the call.\nThe core businesses of Wanda have been hit by lockdowns and other pandemic-induced restrictions. AMC racked up the record loss after theater attendance plummeted over 90%. The cinema chain has raised more than $1 billion since December to keep itself afloat and has cut all non-essential spending.\nWanda cut its stake in AMC to 23.1% by the end of December, with a voting power of 47.4%. In February, the group converted all outstanding Class B common stock to Class A common stock, resulting in further downsizing of its holdings, according to the annual report.\nThe group may still have significant influence over AMC’s management because it sill has two board seats, according to the statement and Aron.\nAMC’s stock has surged more than fivefold this year to $11.16,fueled by an investment frenzy led by Reddit users.\nAt the height of its overseas expansion, Wanda bought landmark assets including Spanish soccer club Atletico Madrid, Hollywood studio Legendary Entertainment and luxury real estates in Beverly Hills and London. Most of these assets have been disposed of. Last year, Wanda also sold its Ironman triathlon business for $730 million.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":322180098,"gmtCreate":1615782722014,"gmtModify":1704786419255,"author":{"id":"3575352038769618","authorId":"3575352038769618","name":"JulianAlson","avatar":"https://static.tigerbbs.com/a4f9fadbfd2a54fe54a080c1732d41f9","vip":1,"crmLevel":6,"crmLevelSwitch":1},"htmlText":"Changing into cash first maybe when the revenuecome back they will come back?","listText":"Changing into cash first maybe when the revenuecome back they will come back?","text":"Changing into cash first maybe when the revenuecome back they will come back?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/322180098","repostId":1166656113,"repostType":4,"repost":{"id":"1166656113","pubTimestamp":1615780492,"share":"https://www.laohu8.com/m/news/1166656113?lang=&edition=full","pubTime":"2021-03-15 11:54","market":"us","language":"en","title":"AMC’s Chinese Owner Gives Up Control Over World’s Largest Cinema Chain","url":"https://stock-news.laohu8.com/highlight/detail?id=1166656113","media":"Bloomberg","summary":"Wanda’s stake in AMC Entertainment cut to 9.8% as of March\nTheater chain reported record loss of $4.","content":"<ul>\n <li>Wanda’s stake in AMC Entertainment cut to 9.8% as of March</li>\n <li>Theater chain reported record loss of $4.6 billion for 2020</li>\n</ul>\n<p>Dalian Wanda Group Co., the conglomerate founded by Chinese billionaire Wang Jianlin, has given up its majority control over&nbsp;AMC Entertainment Holdings Inc.&nbsp;after the world’s largest cinema chain reported a record loss of $4.6 billion for 2020 amid repeated warnings of insolvency.</p>\n<p>Wanda, which&nbsp;bought&nbsp;AMC in 2012 for $2.6 billion, cut its stake and voting power in the company to 9.8% as of March 3, AMC said in its annual report. The group continues to be AMC’s largest shareholder, the cinema chain’s Chief Executive Officer Adam Aron said in an earnings call. As of October, Wanda had held 37.7% of the Leawood, Kansas-based company and 64.5% of its voting power.</p>\n<p>Wanda’s dwindling holdings in AMC marks further contraction of the group’s operations outside of China after it&nbsp;sold&nbsp;its last overseas real estate project in Chicago last year. The company, spanning malls, films, sports and theme parks, was among Chinese conglomerates that accumulated some of the world’s largest debts after paying top prices for overseas trophy assets. The conglomerate has been slimming down aggressively since 2017 to pare debt.</p>\n<p>“With no controlling shareholder in place, now, AMC will be governed, just as most other publicly traded companies, with a wide array of shareholders,” Aron said during the call.</p>\n<p>The core businesses of Wanda have been hit by lockdowns and other pandemic-induced restrictions. AMC racked up the record loss after theater attendance plummeted over 90%. The cinema chain has raised more than $1 billion since December to keep itself afloat and has cut all non-essential spending.</p>\n<p>Wanda cut its stake in AMC to 23.1% by the end of December, with a voting power of 47.4%. In February, the group converted all outstanding Class B common stock to Class A common stock, resulting in further downsizing of its holdings, according to the annual report.</p>\n<p>The group may still have significant influence over AMC’s management because it sill has two board seats, according to the statement and Aron.</p>\n<p>AMC’s stock has surged more than fivefold this year to $11.16,fueled&nbsp;by an investment frenzy led by Reddit users.</p>\n<p>At the height of its overseas expansion, Wanda bought landmark assets including Spanish soccer club Atletico Madrid, Hollywood studio&nbsp;Legendary Entertainment&nbsp;and luxury real estates in Beverly Hills and London. Most of these assets have been disposed of. Last year, Wanda also sold its Ironman triathlon business for $730 million.</p>","source":"lsy1584095487587","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>AMC’s Chinese Owner Gives Up Control Over World’s Largest Cinema Chain</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nAMC’s Chinese Owner Gives Up Control Over World’s Largest Cinema Chain\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-03-15 11:54 GMT+8&nbsp;&nbsp;&nbsp;<a href=http://bloomberg.com/news/articles/2021-03-15/amc-s-chinese-owner-gives-up-control-over-largest-cinema-chain?srnd=premium-asia><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Wanda’s stake in AMC Entertainment cut to 9.8% as of March\nTheater chain reported record loss of $4.6 billion for 2020\n\nDalian Wanda Group Co., the conglomerate founded by Chinese billionaire Wang ...</p>\n\n<a href=\"http://bloomberg.com/news/articles/2021-03-15/amc-s-chinese-owner-gives-up-control-over-largest-cinema-chain?srnd=premium-asia\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"AMC":"AMC院线"},"source_url":"http://bloomberg.com/news/articles/2021-03-15/amc-s-chinese-owner-gives-up-control-over-largest-cinema-chain?srnd=premium-asia","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1166656113","content_text":"Wanda’s stake in AMC Entertainment cut to 9.8% as of March\nTheater chain reported record loss of $4.6 billion for 2020\n\nDalian Wanda Group Co., the conglomerate founded by Chinese billionaire Wang Jianlin, has given up its majority control over AMC Entertainment Holdings Inc. after the world’s largest cinema chain reported a record loss of $4.6 billion for 2020 amid repeated warnings of insolvency.\nWanda, which bought AMC in 2012 for $2.6 billion, cut its stake and voting power in the company to 9.8% as of March 3, AMC said in its annual report. The group continues to be AMC’s largest shareholder, the cinema chain’s Chief Executive Officer Adam Aron said in an earnings call. As of October, Wanda had held 37.7% of the Leawood, Kansas-based company and 64.5% of its voting power.\nWanda’s dwindling holdings in AMC marks further contraction of the group’s operations outside of China after it sold its last overseas real estate project in Chicago last year. The company, spanning malls, films, sports and theme parks, was among Chinese conglomerates that accumulated some of the world’s largest debts after paying top prices for overseas trophy assets. The conglomerate has been slimming down aggressively since 2017 to pare debt.\n“With no controlling shareholder in place, now, AMC will be governed, just as most other publicly traded companies, with a wide array of shareholders,” Aron said during the call.\nThe core businesses of Wanda have been hit by lockdowns and other pandemic-induced restrictions. AMC racked up the record loss after theater attendance plummeted over 90%. The cinema chain has raised more than $1 billion since December to keep itself afloat and has cut all non-essential spending.\nWanda cut its stake in AMC to 23.1% by the end of December, with a voting power of 47.4%. In February, the group converted all outstanding Class B common stock to Class A common stock, resulting in further downsizing of its holdings, according to the annual report.\nThe group may still have significant influence over AMC’s management because it sill has two board seats, according to the statement and Aron.\nAMC’s stock has surged more than fivefold this year to $11.16,fueled by an investment frenzy led by Reddit users.\nAt the height of its overseas expansion, Wanda bought landmark assets including Spanish soccer club Atletico Madrid, Hollywood studio Legendary Entertainment and luxury real estates in Beverly Hills and London. Most of these assets have been disposed of. Last year, Wanda also sold its Ironman triathlon business for $730 million.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":322117589,"gmtCreate":1615782711241,"gmtModify":1704786418767,"author":{"id":"3577583042847869","authorId":"3577583042847869","name":"kt888","avatar":"https://static.laohu8.com/default-avatar.jpg","vip":1,"crmLevel":4,"crmLevelSwitch":0},"htmlText":"...","listText":"...","text":"...","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/322117589","repostId":1166656113,"repostType":4,"repost":{"id":"1166656113","pubTimestamp":1615780492,"share":"https://www.laohu8.com/m/news/1166656113?lang=&edition=full","pubTime":"2021-03-15 11:54","market":"us","language":"en","title":"AMC’s Chinese Owner Gives Up Control Over World’s Largest Cinema Chain","url":"https://stock-news.laohu8.com/highlight/detail?id=1166656113","media":"Bloomberg","summary":"Wanda’s stake in AMC Entertainment cut to 9.8% as of March\nTheater chain reported record loss of $4.","content":"<ul>\n <li>Wanda’s stake in AMC Entertainment cut to 9.8% as of March</li>\n <li>Theater chain reported record loss of $4.6 billion for 2020</li>\n</ul>\n<p>Dalian Wanda Group Co., the conglomerate founded by Chinese billionaire Wang Jianlin, has given up its majority control over&nbsp;AMC Entertainment Holdings Inc.&nbsp;after the world’s largest cinema chain reported a record loss of $4.6 billion for 2020 amid repeated warnings of insolvency.</p>\n<p>Wanda, which&nbsp;bought&nbsp;AMC in 2012 for $2.6 billion, cut its stake and voting power in the company to 9.8% as of March 3, AMC said in its annual report. The group continues to be AMC’s largest shareholder, the cinema chain’s Chief Executive Officer Adam Aron said in an earnings call. As of October, Wanda had held 37.7% of the Leawood, Kansas-based company and 64.5% of its voting power.</p>\n<p>Wanda’s dwindling holdings in AMC marks further contraction of the group’s operations outside of China after it&nbsp;sold&nbsp;its last overseas real estate project in Chicago last year. The company, spanning malls, films, sports and theme parks, was among Chinese conglomerates that accumulated some of the world’s largest debts after paying top prices for overseas trophy assets. The conglomerate has been slimming down aggressively since 2017 to pare debt.</p>\n<p>“With no controlling shareholder in place, now, AMC will be governed, just as most other publicly traded companies, with a wide array of shareholders,” Aron said during the call.</p>\n<p>The core businesses of Wanda have been hit by lockdowns and other pandemic-induced restrictions. AMC racked up the record loss after theater attendance plummeted over 90%. The cinema chain has raised more than $1 billion since December to keep itself afloat and has cut all non-essential spending.</p>\n<p>Wanda cut its stake in AMC to 23.1% by the end of December, with a voting power of 47.4%. In February, the group converted all outstanding Class B common stock to Class A common stock, resulting in further downsizing of its holdings, according to the annual report.</p>\n<p>The group may still have significant influence over AMC’s management because it sill has two board seats, according to the statement and Aron.</p>\n<p>AMC’s stock has surged more than fivefold this year to $11.16,fueled&nbsp;by an investment frenzy led by Reddit users.</p>\n<p>At the height of its overseas expansion, Wanda bought landmark assets including Spanish soccer club Atletico Madrid, Hollywood studio&nbsp;Legendary Entertainment&nbsp;and luxury real estates in Beverly Hills and London. Most of these assets have been disposed of. Last year, Wanda also sold its Ironman triathlon business for $730 million.</p>","source":"lsy1584095487587","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>AMC’s Chinese Owner Gives Up Control Over World’s Largest Cinema Chain</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nAMC’s Chinese Owner Gives Up Control Over World’s Largest Cinema Chain\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-03-15 11:54 GMT+8&nbsp;&nbsp;&nbsp;<a href=http://bloomberg.com/news/articles/2021-03-15/amc-s-chinese-owner-gives-up-control-over-largest-cinema-chain?srnd=premium-asia><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Wanda’s stake in AMC Entertainment cut to 9.8% as of March\nTheater chain reported record loss of $4.6 billion for 2020\n\nDalian Wanda Group Co., the conglomerate founded by Chinese billionaire Wang ...</p>\n\n<a href=\"http://bloomberg.com/news/articles/2021-03-15/amc-s-chinese-owner-gives-up-control-over-largest-cinema-chain?srnd=premium-asia\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"AMC":"AMC院线"},"source_url":"http://bloomberg.com/news/articles/2021-03-15/amc-s-chinese-owner-gives-up-control-over-largest-cinema-chain?srnd=premium-asia","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1166656113","content_text":"Wanda’s stake in AMC Entertainment cut to 9.8% as of March\nTheater chain reported record loss of $4.6 billion for 2020\n\nDalian Wanda Group Co., the conglomerate founded by Chinese billionaire Wang Jianlin, has given up its majority control over AMC Entertainment Holdings Inc. after the world’s largest cinema chain reported a record loss of $4.6 billion for 2020 amid repeated warnings of insolvency.\nWanda, which bought AMC in 2012 for $2.6 billion, cut its stake and voting power in the company to 9.8% as of March 3, AMC said in its annual report. The group continues to be AMC’s largest shareholder, the cinema chain’s Chief Executive Officer Adam Aron said in an earnings call. As of October, Wanda had held 37.7% of the Leawood, Kansas-based company and 64.5% of its voting power.\nWanda’s dwindling holdings in AMC marks further contraction of the group’s operations outside of China after it sold its last overseas real estate project in Chicago last year. The company, spanning malls, films, sports and theme parks, was among Chinese conglomerates that accumulated some of the world’s largest debts after paying top prices for overseas trophy assets. The conglomerate has been slimming down aggressively since 2017 to pare debt.\n“With no controlling shareholder in place, now, AMC will be governed, just as most other publicly traded companies, with a wide array of shareholders,” Aron said during the call.\nThe core businesses of Wanda have been hit by lockdowns and other pandemic-induced restrictions. AMC racked up the record loss after theater attendance plummeted over 90%. The cinema chain has raised more than $1 billion since December to keep itself afloat and has cut all non-essential spending.\nWanda cut its stake in AMC to 23.1% by the end of December, with a voting power of 47.4%. In February, the group converted all outstanding Class B common stock to Class A common stock, resulting in further downsizing of its holdings, according to the annual report.\nThe group may still have significant influence over AMC’s management because it sill has two board seats, according to the statement and Aron.\nAMC’s stock has surged more than fivefold this year to $11.16,fueled by an investment frenzy led by Reddit users.\nAt the height of its overseas expansion, Wanda bought landmark assets including Spanish soccer club Atletico Madrid, Hollywood studio Legendary Entertainment and luxury real estates in Beverly Hills and London. Most of these assets have been disposed of. Last year, Wanda also sold its Ironman triathlon business for $730 million.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":322115809,"gmtCreate":1615782515801,"gmtModify":1704786415663,"author":{"id":"3578112136424524","authorId":"3578112136424524","name":"XiaoYao86","avatar":"https://static.tigerbbs.com/2f4234838d17faf2cd6d8d212d0f0ca4","vip":1,"crmLevel":2,"crmLevelSwitch":0},"htmlText":"need a like","listText":"need a like","text":"need a like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":7,"repostSize":0,"link":"https://ttm.financial/post/322115809","repostId":1166656113,"repostType":4,"repost":{"id":"1166656113","pubTimestamp":1615780492,"share":"https://www.laohu8.com/m/news/1166656113?lang=&edition=full","pubTime":"2021-03-15 11:54","market":"us","language":"en","title":"AMC’s Chinese Owner Gives Up Control Over World’s Largest Cinema Chain","url":"https://stock-news.laohu8.com/highlight/detail?id=1166656113","media":"Bloomberg","summary":"Wanda’s stake in AMC Entertainment cut to 9.8% as of March\nTheater chain reported record loss of $4.","content":"<ul>\n <li>Wanda’s stake in AMC Entertainment cut to 9.8% as of March</li>\n <li>Theater chain reported record loss of $4.6 billion for 2020</li>\n</ul>\n<p>Dalian Wanda Group Co., the conglomerate founded by Chinese billionaire Wang Jianlin, has given up its majority control over&nbsp;AMC Entertainment Holdings Inc.&nbsp;after the world’s largest cinema chain reported a record loss of $4.6 billion for 2020 amid repeated warnings of insolvency.</p>\n<p>Wanda, which&nbsp;bought&nbsp;AMC in 2012 for $2.6 billion, cut its stake and voting power in the company to 9.8% as of March 3, AMC said in its annual report. The group continues to be AMC’s largest shareholder, the cinema chain’s Chief Executive Officer Adam Aron said in an earnings call. As of October, Wanda had held 37.7% of the Leawood, Kansas-based company and 64.5% of its voting power.</p>\n<p>Wanda’s dwindling holdings in AMC marks further contraction of the group’s operations outside of China after it&nbsp;sold&nbsp;its last overseas real estate project in Chicago last year. The company, spanning malls, films, sports and theme parks, was among Chinese conglomerates that accumulated some of the world’s largest debts after paying top prices for overseas trophy assets. The conglomerate has been slimming down aggressively since 2017 to pare debt.</p>\n<p>“With no controlling shareholder in place, now, AMC will be governed, just as most other publicly traded companies, with a wide array of shareholders,” Aron said during the call.</p>\n<p>The core businesses of Wanda have been hit by lockdowns and other pandemic-induced restrictions. AMC racked up the record loss after theater attendance plummeted over 90%. The cinema chain has raised more than $1 billion since December to keep itself afloat and has cut all non-essential spending.</p>\n<p>Wanda cut its stake in AMC to 23.1% by the end of December, with a voting power of 47.4%. In February, the group converted all outstanding Class B common stock to Class A common stock, resulting in further downsizing of its holdings, according to the annual report.</p>\n<p>The group may still have significant influence over AMC’s management because it sill has two board seats, according to the statement and Aron.</p>\n<p>AMC’s stock has surged more than fivefold this year to $11.16,fueled&nbsp;by an investment frenzy led by Reddit users.</p>\n<p>At the height of its overseas expansion, Wanda bought landmark assets including Spanish soccer club Atletico Madrid, Hollywood studio&nbsp;Legendary Entertainment&nbsp;and luxury real estates in Beverly Hills and London. Most of these assets have been disposed of. Last year, Wanda also sold its Ironman triathlon business for $730 million.</p>","source":"lsy1584095487587","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>AMC’s Chinese Owner Gives Up Control Over World’s Largest Cinema Chain</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nAMC’s Chinese Owner Gives Up Control Over World’s Largest Cinema Chain\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-03-15 11:54 GMT+8&nbsp;&nbsp;&nbsp;<a href=http://bloomberg.com/news/articles/2021-03-15/amc-s-chinese-owner-gives-up-control-over-largest-cinema-chain?srnd=premium-asia><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Wanda’s stake in AMC Entertainment cut to 9.8% as of March\nTheater chain reported record loss of $4.6 billion for 2020\n\nDalian Wanda Group Co., the conglomerate founded by Chinese billionaire Wang ...</p>\n\n<a href=\"http://bloomberg.com/news/articles/2021-03-15/amc-s-chinese-owner-gives-up-control-over-largest-cinema-chain?srnd=premium-asia\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"AMC":"AMC院线"},"source_url":"http://bloomberg.com/news/articles/2021-03-15/amc-s-chinese-owner-gives-up-control-over-largest-cinema-chain?srnd=premium-asia","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1166656113","content_text":"Wanda’s stake in AMC Entertainment cut to 9.8% as of March\nTheater chain reported record loss of $4.6 billion for 2020\n\nDalian Wanda Group Co., the conglomerate founded by Chinese billionaire Wang Jianlin, has given up its majority control over AMC Entertainment Holdings Inc. after the world’s largest cinema chain reported a record loss of $4.6 billion for 2020 amid repeated warnings of insolvency.\nWanda, which bought AMC in 2012 for $2.6 billion, cut its stake and voting power in the company to 9.8% as of March 3, AMC said in its annual report. The group continues to be AMC’s largest shareholder, the cinema chain’s Chief Executive Officer Adam Aron said in an earnings call. As of October, Wanda had held 37.7% of the Leawood, Kansas-based company and 64.5% of its voting power.\nWanda’s dwindling holdings in AMC marks further contraction of the group’s operations outside of China after it sold its last overseas real estate project in Chicago last year. The company, spanning malls, films, sports and theme parks, was among Chinese conglomerates that accumulated some of the world’s largest debts after paying top prices for overseas trophy assets. The conglomerate has been slimming down aggressively since 2017 to pare debt.\n“With no controlling shareholder in place, now, AMC will be governed, just as most other publicly traded companies, with a wide array of shareholders,” Aron said during the call.\nThe core businesses of Wanda have been hit by lockdowns and other pandemic-induced restrictions. AMC racked up the record loss after theater attendance plummeted over 90%. The cinema chain has raised more than $1 billion since December to keep itself afloat and has cut all non-essential spending.\nWanda cut its stake in AMC to 23.1% by the end of December, with a voting power of 47.4%. In February, the group converted all outstanding Class B common stock to Class A common stock, resulting in further downsizing of its holdings, according to the annual report.\nThe group may still have significant influence over AMC’s management because it sill has two board seats, according to the statement and Aron.\nAMC’s stock has surged more than fivefold this year to $11.16,fueled by an investment frenzy led by Reddit users.\nAt the height of its overseas expansion, Wanda bought landmark assets including Spanish soccer club Atletico Madrid, Hollywood studio Legendary Entertainment and luxury real estates in Beverly Hills and London. Most of these assets have been disposed of. Last year, Wanda also sold its Ironman triathlon business for $730 million.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":3796304,"gmtCreate":1615784719531,"gmtModify":1680780396949,"authorId":3578112136424524,"author":{"id":3578112136424524,"authorId":3578112136424524,"name":"XiaoYao86","avatar":"https://static.tigerbbs.com/2f4234838d17faf2cd6d8d212d0f0ca4","vip":1,"crmLevel":2,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":322115809,"type":1,"supId":3796176,"prevId":0,"content":"Thx","text":"Thx","html":"Thx"},{"id":3796202,"gmtCreate":1615783572454,"gmtModify":1680780396256,"authorId":3570519374633708,"author":{"id":3570519374633708,"authorId":3570519374633708,"name":"nakazatous","avatar":"https://static.tigerbbs.com/9ac34656b654252df0f82999785e92ae","vip":1,"crmLevel":2,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":3578112136424524,"repliedAuthor":{"id":3578112136424524,"authorId":3578112136424524,"name":"XiaoYao86","avatar":"https://static.tigerbbs.com/2f4234838d17faf2cd6d8d212d0f0ca4","vip":1,"crmLevel":2,"crmLevelSwitch":0,"individualDisplayBadges":[]},"objectId":322115809,"type":1,"supId":3796113,"prevId":3796121,"content":"Ok","text":"Ok","html":"Ok"},{"id":3796297,"gmtCreate":1615784606615,"gmtModify":1680780394321,"authorId":3578112136424524,"author":{"id":3578112136424524,"authorId":3578112136424524,"name":"XiaoYao86","avatar":"https://static.tigerbbs.com/2f4234838d17faf2cd6d8d212d0f0ca4","vip":1,"crmLevel":2,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":322115809,"type":1,"supId":3796123,"prevId":0,"content":"Thx =)","text":"Thx =)","html":"Thx =)"},{"id":3796121,"gmtCreate":1615782735625,"gmtModify":1680780385595,"authorId":3578112136424524,"author":{"id":3578112136424524,"authorId":3578112136424524,"name":"XiaoYao86","avatar":"https://static.tigerbbs.com/2f4234838d17faf2cd6d8d212d0f0ca4","vip":1,"crmLevel":2,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":322115809,"type":1,"supId":3796113,"prevId":0,"content":"Sure","text":"Sure","html":"Sure"},{"id":3796176,"gmtCreate":1615783388886,"gmtModify":1680780385432,"authorId":3576545773081754,"author":{"id":3576545773081754,"authorId":3576545773081754,"name":"Jkrapido","avatar":"https://static.tigerbbs.com/a99be107d174f7142bc212015c662c11","vip":1,"crmLevel":2,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":322115809,"type":1,"supId":0,"prevId":0,"content":"Helped to comment","text":"Helped to comment","html":"Helped to comment"}],"langContent":"EN"},{"id":322115388,"gmtCreate":1615782487744,"gmtModify":1704786415442,"author":{"id":"3572874548548490","authorId":"3572874548548490","name":"kevinlaisq","avatar":"https://static.tigerbbs.com/329de1199f764a89b7cadf50308e183d","vip":1,"crmLevel":2,"crmLevelSwitch":0},"htmlText":"Please comment and share if this share is overhype","listText":"Please comment and share if this share is overhype","text":"Please comment and share if this share is overhype","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":2,"repostSize":0,"link":"https://ttm.financial/post/322115388","repostId":1166656113,"repostType":4,"repost":{"id":"1166656113","pubTimestamp":1615780492,"share":"https://www.laohu8.com/m/news/1166656113?lang=&edition=full","pubTime":"2021-03-15 11:54","market":"us","language":"en","title":"AMC’s Chinese Owner Gives Up Control Over World’s Largest Cinema Chain","url":"https://stock-news.laohu8.com/highlight/detail?id=1166656113","media":"Bloomberg","summary":"Wanda’s stake in AMC Entertainment cut to 9.8% as of March\nTheater chain reported record loss of $4.","content":"<ul>\n <li>Wanda’s stake in AMC Entertainment cut to 9.8% as of March</li>\n <li>Theater chain reported record loss of $4.6 billion for 2020</li>\n</ul>\n<p>Dalian Wanda Group Co., the conglomerate founded by Chinese billionaire Wang Jianlin, has given up its majority control over&nbsp;AMC Entertainment Holdings Inc.&nbsp;after the world’s largest cinema chain reported a record loss of $4.6 billion for 2020 amid repeated warnings of insolvency.</p>\n<p>Wanda, which&nbsp;bought&nbsp;AMC in 2012 for $2.6 billion, cut its stake and voting power in the company to 9.8% as of March 3, AMC said in its annual report. The group continues to be AMC’s largest shareholder, the cinema chain’s Chief Executive Officer Adam Aron said in an earnings call. As of October, Wanda had held 37.7% of the Leawood, Kansas-based company and 64.5% of its voting power.</p>\n<p>Wanda’s dwindling holdings in AMC marks further contraction of the group’s operations outside of China after it&nbsp;sold&nbsp;its last overseas real estate project in Chicago last year. The company, spanning malls, films, sports and theme parks, was among Chinese conglomerates that accumulated some of the world’s largest debts after paying top prices for overseas trophy assets. The conglomerate has been slimming down aggressively since 2017 to pare debt.</p>\n<p>“With no controlling shareholder in place, now, AMC will be governed, just as most other publicly traded companies, with a wide array of shareholders,” Aron said during the call.</p>\n<p>The core businesses of Wanda have been hit by lockdowns and other pandemic-induced restrictions. AMC racked up the record loss after theater attendance plummeted over 90%. The cinema chain has raised more than $1 billion since December to keep itself afloat and has cut all non-essential spending.</p>\n<p>Wanda cut its stake in AMC to 23.1% by the end of December, with a voting power of 47.4%. In February, the group converted all outstanding Class B common stock to Class A common stock, resulting in further downsizing of its holdings, according to the annual report.</p>\n<p>The group may still have significant influence over AMC’s management because it sill has two board seats, according to the statement and Aron.</p>\n<p>AMC’s stock has surged more than fivefold this year to $11.16,fueled&nbsp;by an investment frenzy led by Reddit users.</p>\n<p>At the height of its overseas expansion, Wanda bought landmark assets including Spanish soccer club Atletico Madrid, Hollywood studio&nbsp;Legendary Entertainment&nbsp;and luxury real estates in Beverly Hills and London. Most of these assets have been disposed of. Last year, Wanda also sold its Ironman triathlon business for $730 million.</p>","source":"lsy1584095487587","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>AMC’s Chinese Owner Gives Up Control Over World’s Largest Cinema Chain</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nAMC’s Chinese Owner Gives Up Control Over World’s Largest Cinema Chain\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-03-15 11:54 GMT+8&nbsp;&nbsp;&nbsp;<a href=http://bloomberg.com/news/articles/2021-03-15/amc-s-chinese-owner-gives-up-control-over-largest-cinema-chain?srnd=premium-asia><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Wanda’s stake in AMC Entertainment cut to 9.8% as of March\nTheater chain reported record loss of $4.6 billion for 2020\n\nDalian Wanda Group Co., the conglomerate founded by Chinese billionaire Wang ...</p>\n\n<a href=\"http://bloomberg.com/news/articles/2021-03-15/amc-s-chinese-owner-gives-up-control-over-largest-cinema-chain?srnd=premium-asia\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"AMC":"AMC院线"},"source_url":"http://bloomberg.com/news/articles/2021-03-15/amc-s-chinese-owner-gives-up-control-over-largest-cinema-chain?srnd=premium-asia","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1166656113","content_text":"Wanda’s stake in AMC Entertainment cut to 9.8% as of March\nTheater chain reported record loss of $4.6 billion for 2020\n\nDalian Wanda Group Co., the conglomerate founded by Chinese billionaire Wang Jianlin, has given up its majority control over AMC Entertainment Holdings Inc. after the world’s largest cinema chain reported a record loss of $4.6 billion for 2020 amid repeated warnings of insolvency.\nWanda, which bought AMC in 2012 for $2.6 billion, cut its stake and voting power in the company to 9.8% as of March 3, AMC said in its annual report. The group continues to be AMC’s largest shareholder, the cinema chain’s Chief Executive Officer Adam Aron said in an earnings call. As of October, Wanda had held 37.7% of the Leawood, Kansas-based company and 64.5% of its voting power.\nWanda’s dwindling holdings in AMC marks further contraction of the group’s operations outside of China after it sold its last overseas real estate project in Chicago last year. The company, spanning malls, films, sports and theme parks, was among Chinese conglomerates that accumulated some of the world’s largest debts after paying top prices for overseas trophy assets. The conglomerate has been slimming down aggressively since 2017 to pare debt.\n“With no controlling shareholder in place, now, AMC will be governed, just as most other publicly traded companies, with a wide array of shareholders,” Aron said during the call.\nThe core businesses of Wanda have been hit by lockdowns and other pandemic-induced restrictions. AMC racked up the record loss after theater attendance plummeted over 90%. The cinema chain has raised more than $1 billion since December to keep itself afloat and has cut all non-essential spending.\nWanda cut its stake in AMC to 23.1% by the end of December, with a voting power of 47.4%. In February, the group converted all outstanding Class B common stock to Class A common stock, resulting in further downsizing of its holdings, according to the annual report.\nThe group may still have significant influence over AMC’s management because it sill has two board seats, according to the statement and Aron.\nAMC’s stock has surged more than fivefold this year to $11.16,fueled by an investment frenzy led by Reddit users.\nAt the height of its overseas expansion, Wanda bought landmark assets including Spanish soccer club Atletico Madrid, Hollywood studio Legendary Entertainment and luxury real estates in Beverly Hills and London. Most of these assets have been disposed of. Last year, Wanda also sold its Ironman triathlon business for $730 million.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":3796178,"gmtCreate":1615783401699,"gmtModify":1680780389531,"authorId":3576545773081754,"author":{"id":3576545773081754,"authorId":3576545773081754,"name":"Jkrapido","avatar":"https://static.tigerbbs.com/a99be107d174f7142bc212015c662c11","vip":1,"crmLevel":2,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":322115388,"type":1,"supId":0,"prevId":0,"content":"Amc is a good stock","text":"Amc is a good stock","html":"Amc is a good stock"},{"id":3796116,"gmtCreate":1615782700226,"gmtModify":1680780382643,"authorId":3560204717545571,"author":{"id":3560204717545571,"authorId":3560204717545571,"name":"Kok","avatar":"https://static.tigerbbs.com/efc25bb5380f85af49509ed68d9a3d8f","vip":1,"currentWearingBadge":{"badgeId":"9427a906234c4b18a82ec3d7730b7fa8-1","templateUuid":"9427a906234c4b18a82ec3d7730b7fa8","name":"Star Contributor","description":"Have published 3 or more picked posts, and have published at least one picked post and participated in comments within 30 days","bigImgUrl":"https://community-static.tradeup.com/news/1866dcf97a73be1c330f85862546aedc","smallImgUrl":"https://community-static.tradeup.com/news/4f5c5fa8e2c7683bb5a7fce8753ee456","redirectLinkEnabled":1,"redirectLink":"https://ttm.financial/activity/market/2023/star-contributors/","hasAllocated":1,"isWearing":1,"stampPosition":0,"hasStamp":0,"allocationCount":1,"allocatedDate":"2024.02.18","individualDisplayEnabled":0,"individualDisplaySort":0,"categoryType":2007},"crmLevel":7,"crmLevelSwitch":1,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":322115388,"type":1,"supId":0,"prevId":0,"content":"<u>ok</u>","text":"<u>ok</u>","html":"<u>ok</u>"}],"langContent":"EN"},{"id":322116393,"gmtCreate":1615782383412,"gmtModify":1704786413625,"author":{"id":"3571992769878529","authorId":"3571992769878529","name":"Nisnivlek","avatar":"https://static.tigerbbs.com/da7e63ae933a3a94693af3ca8b29c972","vip":1,"crmLevel":5,"crmLevelSwitch":0},"htmlText":"AMC never die","listText":"AMC never die","text":"AMC never die","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/322116393","repostId":1166656113,"repostType":4,"repost":{"id":"1166656113","pubTimestamp":1615780492,"share":"https://www.laohu8.com/m/news/1166656113?lang=&edition=full","pubTime":"2021-03-15 11:54","market":"us","language":"en","title":"AMC’s Chinese Owner Gives Up Control Over World’s Largest Cinema Chain","url":"https://stock-news.laohu8.com/highlight/detail?id=1166656113","media":"Bloomberg","summary":"Wanda’s stake in AMC Entertainment cut to 9.8% as of March\nTheater chain reported record loss of $4.","content":"<ul>\n <li>Wanda’s stake in AMC Entertainment cut to 9.8% as of March</li>\n <li>Theater chain reported record loss of $4.6 billion for 2020</li>\n</ul>\n<p>Dalian Wanda Group Co., the conglomerate founded by Chinese billionaire Wang Jianlin, has given up its majority control over&nbsp;AMC Entertainment Holdings Inc.&nbsp;after the world’s largest cinema chain reported a record loss of $4.6 billion for 2020 amid repeated warnings of insolvency.</p>\n<p>Wanda, which&nbsp;bought&nbsp;AMC in 2012 for $2.6 billion, cut its stake and voting power in the company to 9.8% as of March 3, AMC said in its annual report. The group continues to be AMC’s largest shareholder, the cinema chain’s Chief Executive Officer Adam Aron said in an earnings call. As of October, Wanda had held 37.7% of the Leawood, Kansas-based company and 64.5% of its voting power.</p>\n<p>Wanda’s dwindling holdings in AMC marks further contraction of the group’s operations outside of China after it&nbsp;sold&nbsp;its last overseas real estate project in Chicago last year. The company, spanning malls, films, sports and theme parks, was among Chinese conglomerates that accumulated some of the world’s largest debts after paying top prices for overseas trophy assets. The conglomerate has been slimming down aggressively since 2017 to pare debt.</p>\n<p>“With no controlling shareholder in place, now, AMC will be governed, just as most other publicly traded companies, with a wide array of shareholders,” Aron said during the call.</p>\n<p>The core businesses of Wanda have been hit by lockdowns and other pandemic-induced restrictions. AMC racked up the record loss after theater attendance plummeted over 90%. The cinema chain has raised more than $1 billion since December to keep itself afloat and has cut all non-essential spending.</p>\n<p>Wanda cut its stake in AMC to 23.1% by the end of December, with a voting power of 47.4%. In February, the group converted all outstanding Class B common stock to Class A common stock, resulting in further downsizing of its holdings, according to the annual report.</p>\n<p>The group may still have significant influence over AMC’s management because it sill has two board seats, according to the statement and Aron.</p>\n<p>AMC’s stock has surged more than fivefold this year to $11.16,fueled&nbsp;by an investment frenzy led by Reddit users.</p>\n<p>At the height of its overseas expansion, Wanda bought landmark assets including Spanish soccer club Atletico Madrid, Hollywood studio&nbsp;Legendary Entertainment&nbsp;and luxury real estates in Beverly Hills and London. Most of these assets have been disposed of. Last year, Wanda also sold its Ironman triathlon business for $730 million.</p>","source":"lsy1584095487587","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>AMC’s Chinese Owner Gives Up Control Over World’s Largest Cinema Chain</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nAMC’s Chinese Owner Gives Up Control Over World’s Largest Cinema Chain\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-03-15 11:54 GMT+8&nbsp;&nbsp;&nbsp;<a href=http://bloomberg.com/news/articles/2021-03-15/amc-s-chinese-owner-gives-up-control-over-largest-cinema-chain?srnd=premium-asia><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Wanda’s stake in AMC Entertainment cut to 9.8% as of March\nTheater chain reported record loss of $4.6 billion for 2020\n\nDalian Wanda Group Co., the conglomerate founded by Chinese billionaire Wang ...</p>\n\n<a href=\"http://bloomberg.com/news/articles/2021-03-15/amc-s-chinese-owner-gives-up-control-over-largest-cinema-chain?srnd=premium-asia\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"AMC":"AMC院线"},"source_url":"http://bloomberg.com/news/articles/2021-03-15/amc-s-chinese-owner-gives-up-control-over-largest-cinema-chain?srnd=premium-asia","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1166656113","content_text":"Wanda’s stake in AMC Entertainment cut to 9.8% as of March\nTheater chain reported record loss of $4.6 billion for 2020\n\nDalian Wanda Group Co., the conglomerate founded by Chinese billionaire Wang Jianlin, has given up its majority control over AMC Entertainment Holdings Inc. after the world’s largest cinema chain reported a record loss of $4.6 billion for 2020 amid repeated warnings of insolvency.\nWanda, which bought AMC in 2012 for $2.6 billion, cut its stake and voting power in the company to 9.8% as of March 3, AMC said in its annual report. The group continues to be AMC’s largest shareholder, the cinema chain’s Chief Executive Officer Adam Aron said in an earnings call. As of October, Wanda had held 37.7% of the Leawood, Kansas-based company and 64.5% of its voting power.\nWanda’s dwindling holdings in AMC marks further contraction of the group’s operations outside of China after it sold its last overseas real estate project in Chicago last year. The company, spanning malls, films, sports and theme parks, was among Chinese conglomerates that accumulated some of the world’s largest debts after paying top prices for overseas trophy assets. The conglomerate has been slimming down aggressively since 2017 to pare debt.\n“With no controlling shareholder in place, now, AMC will be governed, just as most other publicly traded companies, with a wide array of shareholders,” Aron said during the call.\nThe core businesses of Wanda have been hit by lockdowns and other pandemic-induced restrictions. AMC racked up the record loss after theater attendance plummeted over 90%. The cinema chain has raised more than $1 billion since December to keep itself afloat and has cut all non-essential spending.\nWanda cut its stake in AMC to 23.1% by the end of December, with a voting power of 47.4%. In February, the group converted all outstanding Class B common stock to Class A common stock, resulting in further downsizing of its holdings, according to the annual report.\nThe group may still have significant influence over AMC’s management because it sill has two board seats, according to the statement and Aron.\nAMC’s stock has surged more than fivefold this year to $11.16,fueled by an investment frenzy led by Reddit users.\nAt the height of its overseas expansion, Wanda bought landmark assets including Spanish soccer club Atletico Madrid, Hollywood studio Legendary Entertainment and luxury real estates in Beverly Hills and London. Most of these assets have been disposed of. Last year, Wanda also sold its Ironman triathlon business for $730 million.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":3796237,"gmtCreate":1615783937325,"gmtModify":1680780397523,"authorId":3568731733246034,"author":{"id":3568731733246034,"authorId":3568731733246034,"name":"Moneyface","avatar":"https://static.tigerbbs.com/bd761fe3d55bd38bd86fe04152134899","vip":1,"crmLevel":2,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":322116393,"type":1,"supId":0,"prevId":0,"content":"Yes","text":"Yes","html":"Yes"}],"langContent":"EN"},{"id":322116044,"gmtCreate":1615782375388,"gmtModify":1704786411646,"author":{"id":"3564206038822413","authorId":"3564206038822413","name":"BYLI","avatar":"https://static.tigerbbs.com/dbcdd8f8c4120ccb28ce001af664ec2d","vip":1,"crmLevel":2,"crmLevelSwitch":0},"htmlText":"Wow, what happened&nbsp;","listText":"Wow, what happened&nbsp;","text":"Wow, what happened","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/322116044","repostId":1166656113,"repostType":4,"repost":{"id":"1166656113","pubTimestamp":1615780492,"share":"https://www.laohu8.com/m/news/1166656113?lang=&edition=full","pubTime":"2021-03-15 11:54","market":"us","language":"en","title":"AMC’s Chinese Owner Gives Up Control Over World’s Largest Cinema Chain","url":"https://stock-news.laohu8.com/highlight/detail?id=1166656113","media":"Bloomberg","summary":"Wanda’s stake in AMC Entertainment cut to 9.8% as of March\nTheater chain reported record loss of $4.","content":"<ul>\n <li>Wanda’s stake in AMC Entertainment cut to 9.8% as of March</li>\n <li>Theater chain reported record loss of $4.6 billion for 2020</li>\n</ul>\n<p>Dalian Wanda Group Co., the conglomerate founded by Chinese billionaire Wang Jianlin, has given up its majority control over&nbsp;AMC Entertainment Holdings Inc.&nbsp;after the world’s largest cinema chain reported a record loss of $4.6 billion for 2020 amid repeated warnings of insolvency.</p>\n<p>Wanda, which&nbsp;bought&nbsp;AMC in 2012 for $2.6 billion, cut its stake and voting power in the company to 9.8% as of March 3, AMC said in its annual report. The group continues to be AMC’s largest shareholder, the cinema chain’s Chief Executive Officer Adam Aron said in an earnings call. As of October, Wanda had held 37.7% of the Leawood, Kansas-based company and 64.5% of its voting power.</p>\n<p>Wanda’s dwindling holdings in AMC marks further contraction of the group’s operations outside of China after it&nbsp;sold&nbsp;its last overseas real estate project in Chicago last year. The company, spanning malls, films, sports and theme parks, was among Chinese conglomerates that accumulated some of the world’s largest debts after paying top prices for overseas trophy assets. The conglomerate has been slimming down aggressively since 2017 to pare debt.</p>\n<p>“With no controlling shareholder in place, now, AMC will be governed, just as most other publicly traded companies, with a wide array of shareholders,” Aron said during the call.</p>\n<p>The core businesses of Wanda have been hit by lockdowns and other pandemic-induced restrictions. AMC racked up the record loss after theater attendance plummeted over 90%. The cinema chain has raised more than $1 billion since December to keep itself afloat and has cut all non-essential spending.</p>\n<p>Wanda cut its stake in AMC to 23.1% by the end of December, with a voting power of 47.4%. In February, the group converted all outstanding Class B common stock to Class A common stock, resulting in further downsizing of its holdings, according to the annual report.</p>\n<p>The group may still have significant influence over AMC’s management because it sill has two board seats, according to the statement and Aron.</p>\n<p>AMC’s stock has surged more than fivefold this year to $11.16,fueled&nbsp;by an investment frenzy led by Reddit users.</p>\n<p>At the height of its overseas expansion, Wanda bought landmark assets including Spanish soccer club Atletico Madrid, Hollywood studio&nbsp;Legendary Entertainment&nbsp;and luxury real estates in Beverly Hills and London. Most of these assets have been disposed of. Last year, Wanda also sold its Ironman triathlon business for $730 million.</p>","source":"lsy1584095487587","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>AMC’s Chinese Owner Gives Up Control Over World’s Largest Cinema Chain</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nAMC’s Chinese Owner Gives Up Control Over World’s Largest Cinema Chain\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-03-15 11:54 GMT+8&nbsp;&nbsp;&nbsp;<a href=http://bloomberg.com/news/articles/2021-03-15/amc-s-chinese-owner-gives-up-control-over-largest-cinema-chain?srnd=premium-asia><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Wanda’s stake in AMC Entertainment cut to 9.8% as of March\nTheater chain reported record loss of $4.6 billion for 2020\n\nDalian Wanda Group Co., the conglomerate founded by Chinese billionaire Wang ...</p>\n\n<a href=\"http://bloomberg.com/news/articles/2021-03-15/amc-s-chinese-owner-gives-up-control-over-largest-cinema-chain?srnd=premium-asia\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"AMC":"AMC院线"},"source_url":"http://bloomberg.com/news/articles/2021-03-15/amc-s-chinese-owner-gives-up-control-over-largest-cinema-chain?srnd=premium-asia","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1166656113","content_text":"Wanda’s stake in AMC Entertainment cut to 9.8% as of March\nTheater chain reported record loss of $4.6 billion for 2020\n\nDalian Wanda Group Co., the conglomerate founded by Chinese billionaire Wang Jianlin, has given up its majority control over AMC Entertainment Holdings Inc. after the world’s largest cinema chain reported a record loss of $4.6 billion for 2020 amid repeated warnings of insolvency.\nWanda, which bought AMC in 2012 for $2.6 billion, cut its stake and voting power in the company to 9.8% as of March 3, AMC said in its annual report. The group continues to be AMC’s largest shareholder, the cinema chain’s Chief Executive Officer Adam Aron said in an earnings call. As of October, Wanda had held 37.7% of the Leawood, Kansas-based company and 64.5% of its voting power.\nWanda’s dwindling holdings in AMC marks further contraction of the group’s operations outside of China after it sold its last overseas real estate project in Chicago last year. The company, spanning malls, films, sports and theme parks, was among Chinese conglomerates that accumulated some of the world’s largest debts after paying top prices for overseas trophy assets. The conglomerate has been slimming down aggressively since 2017 to pare debt.\n“With no controlling shareholder in place, now, AMC will be governed, just as most other publicly traded companies, with a wide array of shareholders,” Aron said during the call.\nThe core businesses of Wanda have been hit by lockdowns and other pandemic-induced restrictions. AMC racked up the record loss after theater attendance plummeted over 90%. The cinema chain has raised more than $1 billion since December to keep itself afloat and has cut all non-essential spending.\nWanda cut its stake in AMC to 23.1% by the end of December, with a voting power of 47.4%. In February, the group converted all outstanding Class B common stock to Class A common stock, resulting in further downsizing of its holdings, according to the annual report.\nThe group may still have significant influence over AMC’s management because it sill has two board seats, according to the statement and Aron.\nAMC’s stock has surged more than fivefold this year to $11.16,fueled by an investment frenzy led by Reddit users.\nAt the height of its overseas expansion, Wanda bought landmark assets including Spanish soccer club Atletico Madrid, Hollywood studio Legendary Entertainment and luxury real estates in Beverly Hills and London. Most of these assets have been disposed of. Last year, Wanda also sold its Ironman triathlon business for $730 million.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":322118793,"gmtCreate":1615782373312,"gmtModify":1704786410989,"author":{"id":"3571784946922966","authorId":"3571784946922966","name":"kohaku84","avatar":"https://static.tigerbbs.com/ced1f1ad7dc4fefc13b10ec983b8fd7e","vip":1,"crmLevel":5,"crmLevelSwitch":0},"htmlText":"Ohh","listText":"Ohh","text":"Ohh","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/322118793","repostId":1166656113,"repostType":4,"repost":{"id":"1166656113","pubTimestamp":1615780492,"share":"https://www.laohu8.com/m/news/1166656113?lang=&edition=full","pubTime":"2021-03-15 11:54","market":"us","language":"en","title":"AMC’s Chinese Owner Gives Up Control Over World’s Largest Cinema Chain","url":"https://stock-news.laohu8.com/highlight/detail?id=1166656113","media":"Bloomberg","summary":"Wanda’s stake in AMC Entertainment cut to 9.8% as of March\nTheater chain reported record loss of $4.","content":"<ul>\n <li>Wanda’s stake in AMC Entertainment cut to 9.8% as of March</li>\n <li>Theater chain reported record loss of $4.6 billion for 2020</li>\n</ul>\n<p>Dalian Wanda Group Co., the conglomerate founded by Chinese billionaire Wang Jianlin, has given up its majority control over&nbsp;AMC Entertainment Holdings Inc.&nbsp;after the world’s largest cinema chain reported a record loss of $4.6 billion for 2020 amid repeated warnings of insolvency.</p>\n<p>Wanda, which&nbsp;bought&nbsp;AMC in 2012 for $2.6 billion, cut its stake and voting power in the company to 9.8% as of March 3, AMC said in its annual report. The group continues to be AMC’s largest shareholder, the cinema chain’s Chief Executive Officer Adam Aron said in an earnings call. As of October, Wanda had held 37.7% of the Leawood, Kansas-based company and 64.5% of its voting power.</p>\n<p>Wanda’s dwindling holdings in AMC marks further contraction of the group’s operations outside of China after it&nbsp;sold&nbsp;its last overseas real estate project in Chicago last year. The company, spanning malls, films, sports and theme parks, was among Chinese conglomerates that accumulated some of the world’s largest debts after paying top prices for overseas trophy assets. The conglomerate has been slimming down aggressively since 2017 to pare debt.</p>\n<p>“With no controlling shareholder in place, now, AMC will be governed, just as most other publicly traded companies, with a wide array of shareholders,” Aron said during the call.</p>\n<p>The core businesses of Wanda have been hit by lockdowns and other pandemic-induced restrictions. AMC racked up the record loss after theater attendance plummeted over 90%. The cinema chain has raised more than $1 billion since December to keep itself afloat and has cut all non-essential spending.</p>\n<p>Wanda cut its stake in AMC to 23.1% by the end of December, with a voting power of 47.4%. In February, the group converted all outstanding Class B common stock to Class A common stock, resulting in further downsizing of its holdings, according to the annual report.</p>\n<p>The group may still have significant influence over AMC’s management because it sill has two board seats, according to the statement and Aron.</p>\n<p>AMC’s stock has surged more than fivefold this year to $11.16,fueled&nbsp;by an investment frenzy led by Reddit users.</p>\n<p>At the height of its overseas expansion, Wanda bought landmark assets including Spanish soccer club Atletico Madrid, Hollywood studio&nbsp;Legendary Entertainment&nbsp;and luxury real estates in Beverly Hills and London. Most of these assets have been disposed of. Last year, Wanda also sold its Ironman triathlon business for $730 million.</p>","source":"lsy1584095487587","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>AMC’s Chinese Owner Gives Up Control Over World’s Largest Cinema Chain</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nAMC’s Chinese Owner Gives Up Control Over World’s Largest Cinema Chain\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-03-15 11:54 GMT+8&nbsp;&nbsp;&nbsp;<a href=http://bloomberg.com/news/articles/2021-03-15/amc-s-chinese-owner-gives-up-control-over-largest-cinema-chain?srnd=premium-asia><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Wanda’s stake in AMC Entertainment cut to 9.8% as of March\nTheater chain reported record loss of $4.6 billion for 2020\n\nDalian Wanda Group Co., the conglomerate founded by Chinese billionaire Wang ...</p>\n\n<a href=\"http://bloomberg.com/news/articles/2021-03-15/amc-s-chinese-owner-gives-up-control-over-largest-cinema-chain?srnd=premium-asia\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"AMC":"AMC院线"},"source_url":"http://bloomberg.com/news/articles/2021-03-15/amc-s-chinese-owner-gives-up-control-over-largest-cinema-chain?srnd=premium-asia","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1166656113","content_text":"Wanda’s stake in AMC Entertainment cut to 9.8% as of March\nTheater chain reported record loss of $4.6 billion for 2020\n\nDalian Wanda Group Co., the conglomerate founded by Chinese billionaire Wang Jianlin, has given up its majority control over AMC Entertainment Holdings Inc. after the world’s largest cinema chain reported a record loss of $4.6 billion for 2020 amid repeated warnings of insolvency.\nWanda, which bought AMC in 2012 for $2.6 billion, cut its stake and voting power in the company to 9.8% as of March 3, AMC said in its annual report. The group continues to be AMC’s largest shareholder, the cinema chain’s Chief Executive Officer Adam Aron said in an earnings call. As of October, Wanda had held 37.7% of the Leawood, Kansas-based company and 64.5% of its voting power.\nWanda’s dwindling holdings in AMC marks further contraction of the group’s operations outside of China after it sold its last overseas real estate project in Chicago last year. The company, spanning malls, films, sports and theme parks, was among Chinese conglomerates that accumulated some of the world’s largest debts after paying top prices for overseas trophy assets. The conglomerate has been slimming down aggressively since 2017 to pare debt.\n“With no controlling shareholder in place, now, AMC will be governed, just as most other publicly traded companies, with a wide array of shareholders,” Aron said during the call.\nThe core businesses of Wanda have been hit by lockdowns and other pandemic-induced restrictions. AMC racked up the record loss after theater attendance plummeted over 90%. The cinema chain has raised more than $1 billion since December to keep itself afloat and has cut all non-essential spending.\nWanda cut its stake in AMC to 23.1% by the end of December, with a voting power of 47.4%. In February, the group converted all outstanding Class B common stock to Class A common stock, resulting in further downsizing of its holdings, according to the annual report.\nThe group may still have significant influence over AMC’s management because it sill has two board seats, according to the statement and Aron.\nAMC’s stock has surged more than fivefold this year to $11.16,fueled by an investment frenzy led by Reddit users.\nAt the height of its overseas expansion, Wanda bought landmark assets including Spanish soccer club Atletico Madrid, Hollywood studio Legendary Entertainment and luxury real estates in Beverly Hills and London. Most of these assets have been disposed of. Last year, Wanda also sold its Ironman triathlon business for $730 million.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":322119460,"gmtCreate":1615782125150,"gmtModify":1704786406734,"author":{"id":"3569481138573737","authorId":"3569481138573737","name":"RyKee","avatar":"https://static.laohu8.com/default-avatar.jpg","vip":1,"hat":"https://static.tigerbbs.com/b073a07f77dbe6b3bec6b12311fde6bd","crmLevel":5,"crmLevelSwitch":1},"htmlText":"Great...&nbsp;","listText":"Great...&nbsp;","text":"Great...","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/322119460","repostId":1166656113,"repostType":4,"repost":{"id":"1166656113","pubTimestamp":1615780492,"share":"https://www.laohu8.com/m/news/1166656113?lang=&edition=full","pubTime":"2021-03-15 11:54","market":"us","language":"en","title":"AMC’s Chinese Owner Gives Up Control Over World’s Largest Cinema Chain","url":"https://stock-news.laohu8.com/highlight/detail?id=1166656113","media":"Bloomberg","summary":"Wanda’s stake in AMC Entertainment cut to 9.8% as of March\nTheater chain reported record loss of $4.","content":"<ul>\n <li>Wanda’s stake in AMC Entertainment cut to 9.8% as of March</li>\n <li>Theater chain reported record loss of $4.6 billion for 2020</li>\n</ul>\n<p>Dalian Wanda Group Co., the conglomerate founded by Chinese billionaire Wang Jianlin, has given up its majority control over&nbsp;AMC Entertainment Holdings Inc.&nbsp;after the world’s largest cinema chain reported a record loss of $4.6 billion for 2020 amid repeated warnings of insolvency.</p>\n<p>Wanda, which&nbsp;bought&nbsp;AMC in 2012 for $2.6 billion, cut its stake and voting power in the company to 9.8% as of March 3, AMC said in its annual report. The group continues to be AMC’s largest shareholder, the cinema chain’s Chief Executive Officer Adam Aron said in an earnings call. As of October, Wanda had held 37.7% of the Leawood, Kansas-based company and 64.5% of its voting power.</p>\n<p>Wanda’s dwindling holdings in AMC marks further contraction of the group’s operations outside of China after it&nbsp;sold&nbsp;its last overseas real estate project in Chicago last year. The company, spanning malls, films, sports and theme parks, was among Chinese conglomerates that accumulated some of the world’s largest debts after paying top prices for overseas trophy assets. The conglomerate has been slimming down aggressively since 2017 to pare debt.</p>\n<p>“With no controlling shareholder in place, now, AMC will be governed, just as most other publicly traded companies, with a wide array of shareholders,” Aron said during the call.</p>\n<p>The core businesses of Wanda have been hit by lockdowns and other pandemic-induced restrictions. AMC racked up the record loss after theater attendance plummeted over 90%. The cinema chain has raised more than $1 billion since December to keep itself afloat and has cut all non-essential spending.</p>\n<p>Wanda cut its stake in AMC to 23.1% by the end of December, with a voting power of 47.4%. In February, the group converted all outstanding Class B common stock to Class A common stock, resulting in further downsizing of its holdings, according to the annual report.</p>\n<p>The group may still have significant influence over AMC’s management because it sill has two board seats, according to the statement and Aron.</p>\n<p>AMC’s stock has surged more than fivefold this year to $11.16,fueled&nbsp;by an investment frenzy led by Reddit users.</p>\n<p>At the height of its overseas expansion, Wanda bought landmark assets including Spanish soccer club Atletico Madrid, Hollywood studio&nbsp;Legendary Entertainment&nbsp;and luxury real estates in Beverly Hills and London. Most of these assets have been disposed of. Last year, Wanda also sold its Ironman triathlon business for $730 million.</p>","source":"lsy1584095487587","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>AMC’s Chinese Owner Gives Up Control Over World’s Largest Cinema Chain</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nAMC’s Chinese Owner Gives Up Control Over World’s Largest Cinema Chain\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-03-15 11:54 GMT+8&nbsp;&nbsp;&nbsp;<a href=http://bloomberg.com/news/articles/2021-03-15/amc-s-chinese-owner-gives-up-control-over-largest-cinema-chain?srnd=premium-asia><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Wanda’s stake in AMC Entertainment cut to 9.8% as of March\nTheater chain reported record loss of $4.6 billion for 2020\n\nDalian Wanda Group Co., the conglomerate founded by Chinese billionaire Wang ...</p>\n\n<a href=\"http://bloomberg.com/news/articles/2021-03-15/amc-s-chinese-owner-gives-up-control-over-largest-cinema-chain?srnd=premium-asia\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"AMC":"AMC院线"},"source_url":"http://bloomberg.com/news/articles/2021-03-15/amc-s-chinese-owner-gives-up-control-over-largest-cinema-chain?srnd=premium-asia","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1166656113","content_text":"Wanda’s stake in AMC Entertainment cut to 9.8% as of March\nTheater chain reported record loss of $4.6 billion for 2020\n\nDalian Wanda Group Co., the conglomerate founded by Chinese billionaire Wang Jianlin, has given up its majority control over AMC Entertainment Holdings Inc. after the world’s largest cinema chain reported a record loss of $4.6 billion for 2020 amid repeated warnings of insolvency.\nWanda, which bought AMC in 2012 for $2.6 billion, cut its stake and voting power in the company to 9.8% as of March 3, AMC said in its annual report. The group continues to be AMC’s largest shareholder, the cinema chain’s Chief Executive Officer Adam Aron said in an earnings call. As of October, Wanda had held 37.7% of the Leawood, Kansas-based company and 64.5% of its voting power.\nWanda’s dwindling holdings in AMC marks further contraction of the group’s operations outside of China after it sold its last overseas real estate project in Chicago last year. The company, spanning malls, films, sports and theme parks, was among Chinese conglomerates that accumulated some of the world’s largest debts after paying top prices for overseas trophy assets. The conglomerate has been slimming down aggressively since 2017 to pare debt.\n“With no controlling shareholder in place, now, AMC will be governed, just as most other publicly traded companies, with a wide array of shareholders,” Aron said during the call.\nThe core businesses of Wanda have been hit by lockdowns and other pandemic-induced restrictions. AMC racked up the record loss after theater attendance plummeted over 90%. The cinema chain has raised more than $1 billion since December to keep itself afloat and has cut all non-essential spending.\nWanda cut its stake in AMC to 23.1% by the end of December, with a voting power of 47.4%. In February, the group converted all outstanding Class B common stock to Class A common stock, resulting in further downsizing of its holdings, according to the annual report.\nThe group may still have significant influence over AMC’s management because it sill has two board seats, according to the statement and Aron.\nAMC’s stock has surged more than fivefold this year to $11.16,fueled by an investment frenzy led by Reddit users.\nAt the height of its overseas expansion, Wanda bought landmark assets including Spanish soccer club Atletico Madrid, Hollywood studio Legendary Entertainment and luxury real estates in Beverly Hills and London. Most of these assets have been disposed of. Last year, Wanda also sold its Ironman triathlon business for $730 million.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":322137694,"gmtCreate":1615781905718,"gmtModify":1704786403771,"author":{"id":"3576973686770601","authorId":"3576973686770601","name":"nihaomao","avatar":"https://static.tigerbbs.com/3e45935f2b50cf2a2146f6d5c66c031a","vip":1,"crmLevel":5,"crmLevelSwitch":0},"htmlText":"Wow how possible","listText":"Wow how possible","text":"Wow how possible","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/322137694","repostId":1166656113,"repostType":4,"repost":{"id":"1166656113","pubTimestamp":1615780492,"share":"https://www.laohu8.com/m/news/1166656113?lang=&edition=full","pubTime":"2021-03-15 11:54","market":"us","language":"en","title":"AMC’s Chinese Owner Gives Up Control Over World’s Largest Cinema Chain","url":"https://stock-news.laohu8.com/highlight/detail?id=1166656113","media":"Bloomberg","summary":"Wanda’s stake in AMC Entertainment cut to 9.8% as of March\nTheater chain reported record loss of $4.","content":"<ul>\n <li>Wanda’s stake in AMC Entertainment cut to 9.8% as of March</li>\n <li>Theater chain reported record loss of $4.6 billion for 2020</li>\n</ul>\n<p>Dalian Wanda Group Co., the conglomerate founded by Chinese billionaire Wang Jianlin, has given up its majority control over&nbsp;AMC Entertainment Holdings Inc.&nbsp;after the world’s largest cinema chain reported a record loss of $4.6 billion for 2020 amid repeated warnings of insolvency.</p>\n<p>Wanda, which&nbsp;bought&nbsp;AMC in 2012 for $2.6 billion, cut its stake and voting power in the company to 9.8% as of March 3, AMC said in its annual report. The group continues to be AMC’s largest shareholder, the cinema chain’s Chief Executive Officer Adam Aron said in an earnings call. As of October, Wanda had held 37.7% of the Leawood, Kansas-based company and 64.5% of its voting power.</p>\n<p>Wanda’s dwindling holdings in AMC marks further contraction of the group’s operations outside of China after it&nbsp;sold&nbsp;its last overseas real estate project in Chicago last year. The company, spanning malls, films, sports and theme parks, was among Chinese conglomerates that accumulated some of the world’s largest debts after paying top prices for overseas trophy assets. The conglomerate has been slimming down aggressively since 2017 to pare debt.</p>\n<p>“With no controlling shareholder in place, now, AMC will be governed, just as most other publicly traded companies, with a wide array of shareholders,” Aron said during the call.</p>\n<p>The core businesses of Wanda have been hit by lockdowns and other pandemic-induced restrictions. AMC racked up the record loss after theater attendance plummeted over 90%. The cinema chain has raised more than $1 billion since December to keep itself afloat and has cut all non-essential spending.</p>\n<p>Wanda cut its stake in AMC to 23.1% by the end of December, with a voting power of 47.4%. In February, the group converted all outstanding Class B common stock to Class A common stock, resulting in further downsizing of its holdings, according to the annual report.</p>\n<p>The group may still have significant influence over AMC’s management because it sill has two board seats, according to the statement and Aron.</p>\n<p>AMC’s stock has surged more than fivefold this year to $11.16,fueled&nbsp;by an investment frenzy led by Reddit users.</p>\n<p>At the height of its overseas expansion, Wanda bought landmark assets including Spanish soccer club Atletico Madrid, Hollywood studio&nbsp;Legendary Entertainment&nbsp;and luxury real estates in Beverly Hills and London. Most of these assets have been disposed of. Last year, Wanda also sold its Ironman triathlon business for $730 million.</p>","source":"lsy1584095487587","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>AMC’s Chinese Owner Gives Up Control Over World’s Largest Cinema Chain</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nAMC’s Chinese Owner Gives Up Control Over World’s Largest Cinema Chain\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-03-15 11:54 GMT+8&nbsp;&nbsp;&nbsp;<a href=http://bloomberg.com/news/articles/2021-03-15/amc-s-chinese-owner-gives-up-control-over-largest-cinema-chain?srnd=premium-asia><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Wanda’s stake in AMC Entertainment cut to 9.8% as of March\nTheater chain reported record loss of $4.6 billion for 2020\n\nDalian Wanda Group Co., the conglomerate founded by Chinese billionaire Wang ...</p>\n\n<a href=\"http://bloomberg.com/news/articles/2021-03-15/amc-s-chinese-owner-gives-up-control-over-largest-cinema-chain?srnd=premium-asia\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"AMC":"AMC院线"},"source_url":"http://bloomberg.com/news/articles/2021-03-15/amc-s-chinese-owner-gives-up-control-over-largest-cinema-chain?srnd=premium-asia","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1166656113","content_text":"Wanda’s stake in AMC Entertainment cut to 9.8% as of March\nTheater chain reported record loss of $4.6 billion for 2020\n\nDalian Wanda Group Co., the conglomerate founded by Chinese billionaire Wang Jianlin, has given up its majority control over AMC Entertainment Holdings Inc. after the world’s largest cinema chain reported a record loss of $4.6 billion for 2020 amid repeated warnings of insolvency.\nWanda, which bought AMC in 2012 for $2.6 billion, cut its stake and voting power in the company to 9.8% as of March 3, AMC said in its annual report. The group continues to be AMC’s largest shareholder, the cinema chain’s Chief Executive Officer Adam Aron said in an earnings call. As of October, Wanda had held 37.7% of the Leawood, Kansas-based company and 64.5% of its voting power.\nWanda’s dwindling holdings in AMC marks further contraction of the group’s operations outside of China after it sold its last overseas real estate project in Chicago last year. The company, spanning malls, films, sports and theme parks, was among Chinese conglomerates that accumulated some of the world’s largest debts after paying top prices for overseas trophy assets. The conglomerate has been slimming down aggressively since 2017 to pare debt.\n“With no controlling shareholder in place, now, AMC will be governed, just as most other publicly traded companies, with a wide array of shareholders,” Aron said during the call.\nThe core businesses of Wanda have been hit by lockdowns and other pandemic-induced restrictions. AMC racked up the record loss after theater attendance plummeted over 90%. The cinema chain has raised more than $1 billion since December to keep itself afloat and has cut all non-essential spending.\nWanda cut its stake in AMC to 23.1% by the end of December, with a voting power of 47.4%. In February, the group converted all outstanding Class B common stock to Class A common stock, resulting in further downsizing of its holdings, according to the annual report.\nThe group may still have significant influence over AMC’s management because it sill has two board seats, according to the statement and Aron.\nAMC’s stock has surged more than fivefold this year to $11.16,fueled by an investment frenzy led by Reddit users.\nAt the height of its overseas expansion, Wanda bought landmark assets including Spanish soccer club Atletico Madrid, Hollywood studio Legendary Entertainment and luxury real estates in Beverly Hills and London. Most of these assets have been disposed of. Last year, Wanda also sold its Ironman triathlon business for $730 million.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":322138235,"gmtCreate":1615781610827,"gmtModify":1704786396114,"author":{"id":"3574587439900861","authorId":"3574587439900861","name":"DanTEOHH","avatar":"https://static.tigerbbs.com/7d9f3e9c4cc1d068ea658b0e69247a35","vip":1,"crmLevel":5,"crmLevelSwitch":1},"htmlText":"Like please&nbsp;","listText":"Like please&nbsp;","text":"Like please","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":6,"repostSize":0,"link":"https://ttm.financial/post/322138235","repostId":1166656113,"repostType":4,"repost":{"id":"1166656113","pubTimestamp":1615780492,"share":"https://www.laohu8.com/m/news/1166656113?lang=&edition=full","pubTime":"2021-03-15 11:54","market":"us","language":"en","title":"AMC’s Chinese Owner Gives Up Control Over World’s Largest Cinema Chain","url":"https://stock-news.laohu8.com/highlight/detail?id=1166656113","media":"Bloomberg","summary":"Wanda’s stake in AMC Entertainment cut to 9.8% as of March\nTheater chain reported record loss of $4.","content":"<ul>\n <li>Wanda’s stake in AMC Entertainment cut to 9.8% as of March</li>\n <li>Theater chain reported record loss of $4.6 billion for 2020</li>\n</ul>\n<p>Dalian Wanda Group Co., the conglomerate founded by Chinese billionaire Wang Jianlin, has given up its majority control over&nbsp;AMC Entertainment Holdings Inc.&nbsp;after the world’s largest cinema chain reported a record loss of $4.6 billion for 2020 amid repeated warnings of insolvency.</p>\n<p>Wanda, which&nbsp;bought&nbsp;AMC in 2012 for $2.6 billion, cut its stake and voting power in the company to 9.8% as of March 3, AMC said in its annual report. The group continues to be AMC’s largest shareholder, the cinema chain’s Chief Executive Officer Adam Aron said in an earnings call. As of October, Wanda had held 37.7% of the Leawood, Kansas-based company and 64.5% of its voting power.</p>\n<p>Wanda’s dwindling holdings in AMC marks further contraction of the group’s operations outside of China after it&nbsp;sold&nbsp;its last overseas real estate project in Chicago last year. The company, spanning malls, films, sports and theme parks, was among Chinese conglomerates that accumulated some of the world’s largest debts after paying top prices for overseas trophy assets. The conglomerate has been slimming down aggressively since 2017 to pare debt.</p>\n<p>“With no controlling shareholder in place, now, AMC will be governed, just as most other publicly traded companies, with a wide array of shareholders,” Aron said during the call.</p>\n<p>The core businesses of Wanda have been hit by lockdowns and other pandemic-induced restrictions. AMC racked up the record loss after theater attendance plummeted over 90%. The cinema chain has raised more than $1 billion since December to keep itself afloat and has cut all non-essential spending.</p>\n<p>Wanda cut its stake in AMC to 23.1% by the end of December, with a voting power of 47.4%. In February, the group converted all outstanding Class B common stock to Class A common stock, resulting in further downsizing of its holdings, according to the annual report.</p>\n<p>The group may still have significant influence over AMC’s management because it sill has two board seats, according to the statement and Aron.</p>\n<p>AMC’s stock has surged more than fivefold this year to $11.16,fueled&nbsp;by an investment frenzy led by Reddit users.</p>\n<p>At the height of its overseas expansion, Wanda bought landmark assets including Spanish soccer club Atletico Madrid, Hollywood studio&nbsp;Legendary Entertainment&nbsp;and luxury real estates in Beverly Hills and London. Most of these assets have been disposed of. Last year, Wanda also sold its Ironman triathlon business for $730 million.</p>","source":"lsy1584095487587","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>AMC’s Chinese Owner Gives Up Control Over World’s Largest Cinema Chain</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nAMC’s Chinese Owner Gives Up Control Over World’s Largest Cinema Chain\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-03-15 11:54 GMT+8&nbsp;&nbsp;&nbsp;<a href=http://bloomberg.com/news/articles/2021-03-15/amc-s-chinese-owner-gives-up-control-over-largest-cinema-chain?srnd=premium-asia><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Wanda’s stake in AMC Entertainment cut to 9.8% as of March\nTheater chain reported record loss of $4.6 billion for 2020\n\nDalian Wanda Group Co., the conglomerate founded by Chinese billionaire Wang ...</p>\n\n<a href=\"http://bloomberg.com/news/articles/2021-03-15/amc-s-chinese-owner-gives-up-control-over-largest-cinema-chain?srnd=premium-asia\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"AMC":"AMC院线"},"source_url":"http://bloomberg.com/news/articles/2021-03-15/amc-s-chinese-owner-gives-up-control-over-largest-cinema-chain?srnd=premium-asia","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1166656113","content_text":"Wanda’s stake in AMC Entertainment cut to 9.8% as of March\nTheater chain reported record loss of $4.6 billion for 2020\n\nDalian Wanda Group Co., the conglomerate founded by Chinese billionaire Wang Jianlin, has given up its majority control over AMC Entertainment Holdings Inc. after the world’s largest cinema chain reported a record loss of $4.6 billion for 2020 amid repeated warnings of insolvency.\nWanda, which bought AMC in 2012 for $2.6 billion, cut its stake and voting power in the company to 9.8% as of March 3, AMC said in its annual report. The group continues to be AMC’s largest shareholder, the cinema chain’s Chief Executive Officer Adam Aron said in an earnings call. As of October, Wanda had held 37.7% of the Leawood, Kansas-based company and 64.5% of its voting power.\nWanda’s dwindling holdings in AMC marks further contraction of the group’s operations outside of China after it sold its last overseas real estate project in Chicago last year. The company, spanning malls, films, sports and theme parks, was among Chinese conglomerates that accumulated some of the world’s largest debts after paying top prices for overseas trophy assets. The conglomerate has been slimming down aggressively since 2017 to pare debt.\n“With no controlling shareholder in place, now, AMC will be governed, just as most other publicly traded companies, with a wide array of shareholders,” Aron said during the call.\nThe core businesses of Wanda have been hit by lockdowns and other pandemic-induced restrictions. AMC racked up the record loss after theater attendance plummeted over 90%. The cinema chain has raised more than $1 billion since December to keep itself afloat and has cut all non-essential spending.\nWanda cut its stake in AMC to 23.1% by the end of December, with a voting power of 47.4%. In February, the group converted all outstanding Class B common stock to Class A common stock, resulting in further downsizing of its holdings, according to the annual report.\nThe group may still have significant influence over AMC’s management because it sill has two board seats, according to the statement and Aron.\nAMC’s stock has surged more than fivefold this year to $11.16,fueled by an investment frenzy led by Reddit users.\nAt the height of its overseas expansion, Wanda bought landmark assets including Spanish soccer club Atletico Madrid, Hollywood studio Legendary Entertainment and luxury real estates in Beverly Hills and London. Most of these assets have been disposed of. Last year, Wanda also sold its Ironman triathlon business for $730 million.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":3806972,"gmtCreate":1615886301236,"gmtModify":1680780550727,"authorId":3573201360768736,"author":{"id":3573201360768736,"authorId":3573201360768736,"name":"Lty1098","avatar":"https://static.tigerbbs.com/0123641e5b1e8993162711702dcb0f22","vip":1,"crmLevel":2,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":322138235,"type":1,"supId":3796027,"prevId":0,"content":"Thanks","text":"Thanks","html":"Thanks"},{"id":3805248,"gmtCreate":1615868128888,"gmtModify":1680780531665,"authorId":3574996021054734,"author":{"id":3574996021054734,"authorId":3574996021054734,"name":"Teslawonder","avatar":"https://static.laohu8.com/default-avatar.jpg","vip":1,"crmLevel":2,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":322138235,"type":1,"supId":0,"prevId":0,"content":"Wow AMC<br>\nHi pls like and comment on my posts too.","text":"Wow AMC<br>\nHi pls like and comment on my posts too.","html":"Wow AMC<br>\nHi pls like and comment on my posts too."},{"id":3797076,"gmtCreate":1615794536570,"gmtModify":1680780402499,"authorId":3573201360768736,"author":{"id":3573201360768736,"authorId":3573201360768736,"name":"Lty1098","avatar":"https://static.tigerbbs.com/0123641e5b1e8993162711702dcb0f22","vip":1,"crmLevel":2,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":3560204717545571,"repliedAuthor":{"id":3560204717545571,"authorId":3560204717545571,"name":"Kok","avatar":"https://static.tigerbbs.com/efc25bb5380f85af49509ed68d9a3d8f","vip":1,"currentWearingBadge":{"badgeId":"9427a906234c4b18a82ec3d7730b7fa8-1","templateUuid":"9427a906234c4b18a82ec3d7730b7fa8","name":"Star Contributor","description":"Have published 3 or more picked posts, and have published at least one picked post and participated in comments within 30 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n comment pls","text":"Like n comment pls","html":"Like n comment pls"},{"id":3796017,"gmtCreate":1615781915666,"gmtModify":1680780387101,"authorId":3576973686770601,"author":{"id":3576973686770601,"authorId":3576973686770601,"name":"nihaomao","avatar":"https://static.tigerbbs.com/3e45935f2b50cf2a2146f6d5c66c031a","vip":1,"currentWearingBadge":{"badgeId":"972123088c9646f7b6091ae0662215be-2","templateUuid":"972123088c9646f7b6091ae0662215be","name":"Master Trader","description":"Total number of securities or futures transactions reached 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11:54","market":"us","language":"en","title":"AMC’s Chinese Owner Gives Up Control Over World’s Largest Cinema Chain","url":"https://stock-news.laohu8.com/highlight/detail?id=1166656113","media":"Bloomberg","summary":"Wanda’s stake in AMC Entertainment cut to 9.8% as of March\nTheater chain reported record loss of $4.","content":"<ul>\n <li>Wanda’s stake in AMC Entertainment cut to 9.8% as of March</li>\n <li>Theater chain reported record loss of $4.6 billion for 2020</li>\n</ul>\n<p>Dalian Wanda Group Co., the conglomerate founded by Chinese billionaire Wang Jianlin, has given up its majority control over&nbsp;AMC Entertainment Holdings Inc.&nbsp;after the world’s largest cinema chain reported a record loss of $4.6 billion for 2020 amid repeated warnings of insolvency.</p>\n<p>Wanda, which&nbsp;bought&nbsp;AMC in 2012 for $2.6 billion, cut its stake and voting power in the company to 9.8% as of March 3, AMC said in its annual report. The group continues to be AMC’s largest shareholder, the cinema chain’s Chief Executive Officer Adam Aron said in an earnings call. As of October, Wanda had held 37.7% of the Leawood, Kansas-based company and 64.5% of its voting power.</p>\n<p>Wanda’s dwindling holdings in AMC marks further contraction of the group’s operations outside of China after it&nbsp;sold&nbsp;its last overseas real estate project in Chicago last year. The company, spanning malls, films, sports and theme parks, was among Chinese conglomerates that accumulated some of the world’s largest debts after paying top prices for overseas trophy assets. The conglomerate has been slimming down aggressively since 2017 to pare debt.</p>\n<p>“With no controlling shareholder in place, now, AMC will be governed, just as most other publicly traded companies, with a wide array of shareholders,” Aron said during the call.</p>\n<p>The core businesses of Wanda have been hit by lockdowns and other pandemic-induced restrictions. AMC racked up the record loss after theater attendance plummeted over 90%. The cinema chain has raised more than $1 billion since December to keep itself afloat and has cut all non-essential spending.</p>\n<p>Wanda cut its stake in AMC to 23.1% by the end of December, with a voting power of 47.4%. In February, the group converted all outstanding Class B common stock to Class A common stock, resulting in further downsizing of its holdings, according to the annual report.</p>\n<p>The group may still have significant influence over AMC’s management because it sill has two board seats, according to the statement and Aron.</p>\n<p>AMC’s stock has surged more than fivefold this year to $11.16,fueled&nbsp;by an investment frenzy led by Reddit users.</p>\n<p>At the height of its overseas expansion, Wanda bought landmark assets including Spanish soccer club Atletico Madrid, Hollywood studio&nbsp;Legendary Entertainment&nbsp;and luxury real estates in Beverly Hills and London. Most of these assets have been disposed of. Last year, Wanda also sold its Ironman triathlon business for $730 million.</p>","source":"lsy1584095487587","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>AMC’s Chinese Owner Gives Up Control Over World’s Largest Cinema Chain</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nAMC’s Chinese Owner Gives Up Control Over World’s Largest Cinema Chain\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-03-15 11:54 GMT+8&nbsp;&nbsp;&nbsp;<a href=http://bloomberg.com/news/articles/2021-03-15/amc-s-chinese-owner-gives-up-control-over-largest-cinema-chain?srnd=premium-asia><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Wanda’s stake in AMC Entertainment cut to 9.8% as of March\nTheater chain reported record loss of $4.6 billion for 2020\n\nDalian Wanda Group Co., the conglomerate founded by Chinese billionaire Wang ...</p>\n\n<a href=\"http://bloomberg.com/news/articles/2021-03-15/amc-s-chinese-owner-gives-up-control-over-largest-cinema-chain?srnd=premium-asia\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"AMC":"AMC院线"},"source_url":"http://bloomberg.com/news/articles/2021-03-15/amc-s-chinese-owner-gives-up-control-over-largest-cinema-chain?srnd=premium-asia","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1166656113","content_text":"Wanda’s stake in AMC Entertainment cut to 9.8% as of March\nTheater chain reported record loss of $4.6 billion for 2020\n\nDalian Wanda Group Co., the conglomerate founded by Chinese billionaire Wang Jianlin, has given up its majority control over AMC Entertainment Holdings Inc. after the world’s largest cinema chain reported a record loss of $4.6 billion for 2020 amid repeated warnings of insolvency.\nWanda, which bought AMC in 2012 for $2.6 billion, cut its stake and voting power in the company to 9.8% as of March 3, AMC said in its annual report. The group continues to be AMC’s largest shareholder, the cinema chain’s Chief Executive Officer Adam Aron said in an earnings call. As of October, Wanda had held 37.7% of the Leawood, Kansas-based company and 64.5% of its voting power.\nWanda’s dwindling holdings in AMC marks further contraction of the group’s operations outside of China after it sold its last overseas real estate project in Chicago last year. The company, spanning malls, films, sports and theme parks, was among Chinese conglomerates that accumulated some of the world’s largest debts after paying top prices for overseas trophy assets. The conglomerate has been slimming down aggressively since 2017 to pare debt.\n“With no controlling shareholder in place, now, AMC will be governed, just as most other publicly traded companies, with a wide array of shareholders,” Aron said during the call.\nThe core businesses of Wanda have been hit by lockdowns and other pandemic-induced restrictions. AMC racked up the record loss after theater attendance plummeted over 90%. The cinema chain has raised more than $1 billion since December to keep itself afloat and has cut all non-essential spending.\nWanda cut its stake in AMC to 23.1% by the end of December, with a voting power of 47.4%. In February, the group converted all outstanding Class B common stock to Class A common stock, resulting in further downsizing of its holdings, according to the annual report.\nThe group may still have significant influence over AMC’s management because it sill has two board seats, according to the statement and Aron.\nAMC’s stock has surged more than fivefold this year to $11.16,fueled by an investment frenzy led by Reddit users.\nAt the height of its overseas expansion, Wanda bought landmark assets including Spanish soccer club Atletico Madrid, Hollywood studio Legendary Entertainment and luxury real estates in Beverly Hills and London. Most of these assets have been disposed of. Last year, Wanda also sold its Ironman triathlon business for $730 million.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":322133204,"gmtCreate":1615781296508,"gmtModify":1704786393362,"author":{"id":"3577917165320806","authorId":"3577917165320806","name":"KinKat","avatar":"https://community-static.tradeup.com/news/303a11363633244c53e6b67003899c74","vip":1,"crmLevel":7,"crmLevelSwitch":0},"htmlText":"Smart move!","listText":"Smart move!","text":"Smart move!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/322133204","repostId":1166656113,"repostType":4,"repost":{"id":"1166656113","pubTimestamp":1615780492,"share":"https://www.laohu8.com/m/news/1166656113?lang=&edition=full","pubTime":"2021-03-15 11:54","market":"us","language":"en","title":"AMC’s Chinese Owner Gives Up Control Over World’s Largest Cinema Chain","url":"https://stock-news.laohu8.com/highlight/detail?id=1166656113","media":"Bloomberg","summary":"Wanda’s stake in AMC Entertainment cut to 9.8% as of March\nTheater chain reported record loss of $4.","content":"<ul>\n <li>Wanda’s stake in AMC Entertainment cut to 9.8% as of March</li>\n <li>Theater chain reported record loss of $4.6 billion for 2020</li>\n</ul>\n<p>Dalian Wanda Group Co., the conglomerate founded by Chinese billionaire Wang Jianlin, has given up its majority control over&nbsp;AMC Entertainment Holdings Inc.&nbsp;after the world’s largest cinema chain reported a record loss of $4.6 billion for 2020 amid repeated warnings of insolvency.</p>\n<p>Wanda, which&nbsp;bought&nbsp;AMC in 2012 for $2.6 billion, cut its stake and voting power in the company to 9.8% as of March 3, AMC said in its annual report. The group continues to be AMC’s largest shareholder, the cinema chain’s Chief Executive Officer Adam Aron said in an earnings call. As of October, Wanda had held 37.7% of the Leawood, Kansas-based company and 64.5% of its voting power.</p>\n<p>Wanda’s dwindling holdings in AMC marks further contraction of the group’s operations outside of China after it&nbsp;sold&nbsp;its last overseas real estate project in Chicago last year. The company, spanning malls, films, sports and theme parks, was among Chinese conglomerates that accumulated some of the world’s largest debts after paying top prices for overseas trophy assets. The conglomerate has been slimming down aggressively since 2017 to pare debt.</p>\n<p>“With no controlling shareholder in place, now, AMC will be governed, just as most other publicly traded companies, with a wide array of shareholders,” Aron said during the call.</p>\n<p>The core businesses of Wanda have been hit by lockdowns and other pandemic-induced restrictions. AMC racked up the record loss after theater attendance plummeted over 90%. The cinema chain has raised more than $1 billion since December to keep itself afloat and has cut all non-essential spending.</p>\n<p>Wanda cut its stake in AMC to 23.1% by the end of December, with a voting power of 47.4%. In February, the group converted all outstanding Class B common stock to Class A common stock, resulting in further downsizing of its holdings, according to the annual report.</p>\n<p>The group may still have significant influence over AMC’s management because it sill has two board seats, according to the statement and Aron.</p>\n<p>AMC’s stock has surged more than fivefold this year to $11.16,fueled&nbsp;by an investment frenzy led by Reddit users.</p>\n<p>At the height of its overseas expansion, Wanda bought landmark assets including Spanish soccer club Atletico Madrid, Hollywood studio&nbsp;Legendary Entertainment&nbsp;and luxury real estates in Beverly Hills and London. Most of these assets have been disposed of. Last year, Wanda also sold its Ironman triathlon business for $730 million.</p>","source":"lsy1584095487587","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>AMC’s Chinese Owner Gives Up Control Over World’s Largest Cinema Chain</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nAMC’s Chinese Owner Gives Up Control Over World’s Largest Cinema Chain\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-03-15 11:54 GMT+8&nbsp;&nbsp;&nbsp;<a href=http://bloomberg.com/news/articles/2021-03-15/amc-s-chinese-owner-gives-up-control-over-largest-cinema-chain?srnd=premium-asia><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Wanda’s stake in AMC Entertainment cut to 9.8% as of March\nTheater chain reported record loss of $4.6 billion for 2020\n\nDalian Wanda Group Co., the conglomerate founded by Chinese billionaire Wang ...</p>\n\n<a href=\"http://bloomberg.com/news/articles/2021-03-15/amc-s-chinese-owner-gives-up-control-over-largest-cinema-chain?srnd=premium-asia\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"AMC":"AMC院线"},"source_url":"http://bloomberg.com/news/articles/2021-03-15/amc-s-chinese-owner-gives-up-control-over-largest-cinema-chain?srnd=premium-asia","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1166656113","content_text":"Wanda’s stake in AMC Entertainment cut to 9.8% as of March\nTheater chain reported record loss of $4.6 billion for 2020\n\nDalian Wanda Group Co., the conglomerate founded by Chinese billionaire Wang Jianlin, has given up its majority control over AMC Entertainment Holdings Inc. after the world’s largest cinema chain reported a record loss of $4.6 billion for 2020 amid repeated warnings of insolvency.\nWanda, which bought AMC in 2012 for $2.6 billion, cut its stake and voting power in the company to 9.8% as of March 3, AMC said in its annual report. The group continues to be AMC’s largest shareholder, the cinema chain’s Chief Executive Officer Adam Aron said in an earnings call. As of October, Wanda had held 37.7% of the Leawood, Kansas-based company and 64.5% of its voting power.\nWanda’s dwindling holdings in AMC marks further contraction of the group’s operations outside of China after it sold its last overseas real estate project in Chicago last year. The company, spanning malls, films, sports and theme parks, was among Chinese conglomerates that accumulated some of the world’s largest debts after paying top prices for overseas trophy assets. The conglomerate has been slimming down aggressively since 2017 to pare debt.\n“With no controlling shareholder in place, now, AMC will be governed, just as most other publicly traded companies, with a wide array of shareholders,” Aron said during the call.\nThe core businesses of Wanda have been hit by lockdowns and other pandemic-induced restrictions. AMC racked up the record loss after theater attendance plummeted over 90%. The cinema chain has raised more than $1 billion since December to keep itself afloat and has cut all non-essential spending.\nWanda cut its stake in AMC to 23.1% by the end of December, with a voting power of 47.4%. In February, the group converted all outstanding Class B common stock to Class A common stock, resulting in further downsizing of its holdings, according to the annual report.\nThe group may still have significant influence over AMC’s management because it sill has two board seats, according to the statement and Aron.\nAMC’s stock has surged more than fivefold this year to $11.16,fueled by an investment frenzy led by Reddit users.\nAt the height of its overseas expansion, Wanda bought landmark assets including Spanish soccer club Atletico Madrid, Hollywood studio Legendary Entertainment and luxury real estates in Beverly Hills and London. Most of these assets have been disposed of. Last year, Wanda also sold its Ironman triathlon business for $730 million.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"}],"hasMoreComments":true,"newsSizeData":{"likeSize":45,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false}}