UltraStar Cinemas of San Diego County has formed a joint venture to build more than 40 theaters in China, capitalizing on that country's growing appetite for movies.
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The chairman of closely held conglomerate Dalian Wanda Group, which became the world’s largest movie theater chain after acquiring AMC Entertainment Holdings Inc. last year for $2.6 billion, has a net worth of $14.2 billion.
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China Film Group's desire for a quick IPO puts pressure on the state-owned distributor to end its months-long standoff over hundreds of millions in box-office payments to the six major Hollywood studios.
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