WOODBRIDGE, Va. — What’s described as China’s largest investor in cultural entertainment will now own Woodbridge’s largest movie theater.
AMC Theaters, which has 18 screens at Potomac Mills mall in Woodbridge, will be acquired by Dalian Wanda Group Co., Ltd. The acquisition is part of a move that will give the Chinese firm control of all 346 multiplexes operated by AMC.
The $2.6 billion transaction will also give the Kansas City-based theater chain an additional $500 million to fund AMC’s operating initiatives, according to a press release.
The move comes less than a week after officials at Potomac Mills mall announced it will expand its retail offering, and will build an outdoor retail and restaurant complex that will span between the movie theatres and Costco. The expansion will include new restaurants like Cheesecake Factory, will connect to the mall, and should be complete this fall.
AMC also operates theaters in Alexandria and Washington.
