Buying AMC Entertainment -- the second-largest U.S. theater chain -- for $2.6 billion is just "the first step" of a $10-billion investment in the U.S., which will likely include the purchase of additional theaters, a joint venture in film production, hotels and retail stores, the head of China's Dalian Wanda Group said at a news conference in Los Angeles on Tuesday. Appearing at a news conference with AMC CEO Geraldo I. Lopez and IMAX CEO Richard Gelfond, Wang Jianlin, chairman and president of Wanda, said that he planned to meet with major film executives during his visit. "We're seeking to work with the most famous studios in Hollywood to produce quality films," Wang said in a separate interview with the Los Angeles Times .
The former president was believed by some to have been suffering from dementia during his second term in office from 1984 to 1988.
Pop fans looking forward to their summer holidays will be pleased to hear the news...