A Chinese conglomerate is set to become the largest movie theater operator in the United States. The Wanda Group, a Chinese company with extensive interests in the entertainment business, has agreed to acquire AMC Entertainment and its 5,000 movie screens across North America.
The deal is valued at $2.6 billion and marks the largest investment to date by a Chinese company in the American film industry.
Phil Levy explains China's influence on American business. He teaches international economics at the Columbia School of International and Public Affairs.