Deals
Billionaire Wang's Wanda Cinema Sees Opportunity in China's Box-Office Slump
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People wear 3-D glasses while watch a movie in the Wanda Cinema Line Co. cinema at the Tongzhou Wanda Plaza shopping mall.
Photographer: Tomohiro Ohsumi/BloombergThis article is for subscribers only.
China’s largest theater operator said a slump in box-office sales nationwide leaves the company, which has bucked the trend at its own cinemas, in position to buy rivals at cheaper valuations.
Wanda Cinema Line Co., the film exhibitor arm of billionaire Wang Jianlin’s Wanda Group, is maintaining its target to use acquisitions and organic growth to add about 150 theaters this year, averaging about three a week, President Zeng Maojun told reporters Monday in Beijing.