Reliance Teams With Wanda Over Exhib
The Wanda Group has some 1000 screens in China and plans to spend $10 billion in North America over the next decade building up its theatrical circuit holdings, Reuters reports. Earlier this year Wanda became the largest circuit owner in the world when it picked up US cinema chain AMC Entertainment and its 5,890 screens in the US for $2.6 billion. Anil Ambani’s massive conglomerate Reliance has 254 screens in India and 170 in the US, as well as investments in DreamWorks Studios. It has also put money behind a 10-episode project for NBC.
Reliance facilities and post-production unit Mediaworks recently joined up with China’s Galloping Horse to acquire US effects house Digital Domain. In that venture, Galloping Horse took a 70% stake, Reliance 30%.