Wanda Group Gives Up Majority Stake in AMC Theatres

The theatre chain reported a record loss of $4.6 billion for the year 2020. (Source: AMC)

Dalian Wanda Group has given up its majority stake in AMC Entertainment Holdings, the largest theater operator in the United States after it reported a record loss for 2020.

Privately-held conglomerate Wanda, which had cut its stake to 23.08% of AMC’s outstanding sha…