Mar 15, 2021 04:16 PM (GMT+8) · EqualOcean
AMC entertainment holdings, the largest U.S. theater operator, said Dalian Wanda Group had given up its controlling stake in the company after its record loss of $4.6bn in 2020. AMC disclosed in its annual report that as of March 3, Wanda had reduced its shareholding and voting rights in the company to 9.8%, although Wanda Group remained AMC's largest shareholder. According to AMC's statement and Allen's statement, Wanda Group is still likely to have a significant impact on AMC's management, as it still has two seats on AMC's board of directors.