The Popular Movie Theater Chain That's Owned By China

You have probably had this specific experience while at the movies in the last several years: you take your seat, the lights dim, and Nicole Kidman fills the screen saying phrases like "Somehow, heartbreak feels good in a place like this." and "...stories feel perfect and powerful. Because here they are." The place she is referring to is, of course, AMC, the largest movie theatre chain in America — and the home of Kidman's notorious promotional ad. The company was founded by Stanley Durwood who, in 1968, launched the first national multi-screen theater chain that would eventually become AMC.

However, AMC, an acronym for "American Multi-Cinema," is actually owned by a Chinese business called Dalian Wanda Group. AMC is, of course, just one of several large American corporations owned by Chinese investors. AMC is not an outlying example either, as China has acquired U.S. companies across industries like food, entertainment, and finance over the years.

Many moviegoers might have considered if the AMC Stubs A-List subscription was worth the cost, but it is hard to say how many have dug into the ownership of the movie chain to find out where their ticket sales are actually going. Wang Jianlin, the Chinese investor at the head of the Dalian Wanda Group, purchased AMC in 2012 for $2.6 billion. Four years later, Jianlin — a big fan of Hollywood overall — had Dalian Wanda Group buy Legendary Entertainment Group for $3.5 billion and Carmike Cinemas for $1.2 billion.

However, as 2020 came to a close, Dalian Wanda Group took a step back from being the majority stakeholder of AMC. Per Variety, the multinational organization reduced the stake of its collected outstanding stock to 23.08% before the end of the year, and lowered its overall combined voting power to 47.37%. The company eventually converting its class of stock in March 2021 — leaving just 9.8% of ownership still under the Dalian Wanda Group.

It's no surprise that movie theater chains like AMC, Regal, Alamo Drafthouse, and others have experienced drops in attendance. Not only did the COVID-19 pandemic keep moviegoers away from the big screen, but the number of actual theaters in America also dried up, dropping to around 4,340 in 2023 from 5,768 just ten years prior, according to a report from WorldMetrics.org. 

It does not help that most movie theater chains include huge markups on concessions, further adding to the overall expense of going out to see a movie. Many have questioned if the death of the movie theater is close at hand, especially as box office numbers in 2024 were less than favorable. Still, there is some hope on the horizon, as ticket sales for the first half of 2025 showed strong signs of a resurgence. Tom Cruise, in particular, has received praise for leading the charge to bring audiences back to the theaters — particularly with the latest installment in his "Mission Impossible" franchise aiding one of the biggest Memorial Day weekend box offices in history in 2025. Just don't expect exes Cruise and Kidman to be sharing the screen anytime soon, even at an AMC.