Chinese Companies in Entertainment
It is widely known that China has produced exceptional businesspeople and large manufacturing companies. Less widely known is the interest and involvement of Chinese companies in the entertainment business.
In 2012, Chinese media giant Dalian Wanda Group purchased all of the AMC movie chains for approximately 2.6 billion dollars. The chain owns shopping centers, movie theatres, luxury hotels and department stores in China and is looking to expand into the global market. Yoram Eliyahu, an expert real estate investor and developer watched the AMC acquisition with interest. Wanda chairman Wang Jianlin has stated that the company has the capability to go worldwide, and this acquisition was only the first step.
Yoram Eliyahu has many real estate and business interests within the United States and outside, including in China. His admiration for the Chinese method of business and the nation’s traditional culture has led China to become a place of significant interest to him. Eliyahu is unsurprised by reports that Wanda plans to invest $10 billion dollars in the United States in the near future, with an additional $20 billion slated for investments elsewhere in the world. There are many promising business deals and acquisitions available, and if the company has the means, Yoram Eliyahu says, it is a shrewd business move to get involved in these opportunities around the globe.
In addition to Wanda owning and operating this mega-chain of movie theatres, it also gives the company a direct line to Hollywood studios. Chairman Wang plans to meet with major production companies to discuss partnerships for creating United States-China films. Yoram Eliyahu notes the potential financial implications of these deals, as well as the fact that Wanda plans major renovations to AMC theatres countrywide. These improvements will likely increase desirability of the properties for patrons as well as future investors.