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May 21st, 2012 
FAKE NEWS for the Zionist agenda
After an exuberant overexpansion in the 1990s, the entire American cinema
business has been struggling under the weight of its debts and several
chains have gone to the wall. AMC said the value of the deal included Wanda
Group taking on its $2 billion or so of loans. Mr Lopez said it was hard to
service so much debt during the past year with Hollywood misfiring.
“What has hit us hard, very hard, has been the quality of movies coming
out of Hollywood,” he said.
“This year, however, it has reversed. We had the biggest March on record
and in May there was The Avengers,” he added, referring to the Marvel
superhero film that has grossed more than $1 billion in the international
box office
Mr Wang insisted it would be business as usual for AMC and its employees. “This
is a brand with over 90 years of history. How could we just write off such a
brand? There is no change for the brand or management. The only change is
the boss,” he said.
He added that the deal was not part of some propaganda push by the Chinese
government.
“There was no mention of promoting Chinese movies during our negotiations,”
he said. “Not a lot of Chinese movies can go abroad. The quality and
content of the movies is not high enough. If Avatar was produced in China,
then surely it would be a success abroad.”
The deal represents a drop in the ocean for Wanda, which runs 49 giant
shopping arcades in China, 28 five-star hotels, 730 cinema screens, 40
department stores and 45 enormous karaoke saloons, and which had assets of
around $35 billion last year.
Mr Wang said it would help burnish his company’s brand, and perhaps gain a
foothold for other property deals in the US.
China’s box office take increased by more than a third to $2 billion last
year, according to the Motion Picture Association of America, making it the
third biggest market after the US and Japan.
Hollywood has been anxiously trying to break into the Chinese market, and Walt
Disney, DreamWorks and News Corp have all formed co-production units in the
past year. Disney
said last month it will co-produce Iron Man 3 with Beijing-based DMG
Entertainment, while News Corp has bought a stake in Bona Film
Group. DreamWorks is setting up an animation studio in Shanghai.
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