China's Richest Man Buys More Big Screens

China’s wealthiest man Wang Jianlin has been active again this week with his Wanda Cinema business said to be acquiring the Australian and New Zealand based Hoyts cinema chain.

With around 400 screens across Australia and New Zealand the Hoyts acquisition will join the bulging entertainment stable of Wang Jianlin.

The tycoon is already China’s largest private sector cinema operator with over 150 multiplexes in 80 cities and also owns North American cinema chain AMC Entertainment after a 202 takeover.

Wanda Cinema did not disclose how much it would pay for Hoyts in a regulatory filing but, according to reports the deal could be worth as much as $US750 million.

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