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According to Chinese news sources, Netflix, Inc. (NASDAQ: NFLX) is preparing an entry to the Chinese market. The report added that Netflix will team up with Wanda Group after Alibaba Group Holding Ltd (NYSE: BABA) attempted to form a partnership. Netflix has been eyeing the Chinese market. Read More. Don t Miss Any Updates! News Directly in Your Inbox Subscribe to:
Insider Sells AMC Entertainment Shares benzinga.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from benzinga.com Daily Mail and Mail on Sunday newspapers.
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AMC Entertainment Holdings Inc (NYSE: AMC) converted its shares in the cinema operator in order to be able to sell them, according to a filing with the U.S. Securities and Exchange Commission.
What Happened: Wanda America Entertainment Inc, a unit of Beijing-based Wanda Group, converted its Class B common stock to Class A AMC shares on Feb. 1 “in order to permit sales of its common stock,” according to the filing.
No details of how much stock was converted were given out in the SEC document.
The Chinese conglomerate had acquired the majority stake in AMC for $2.5 billion in May 2012.