We still hold the acquisition of a major stake in US and European cinemas as little more than an error of judgement and that the 2012 purchase of the bulk of the shares in AMC Entertainment by Dalian Wanda of China, was an arrogant misstep. The logic is simple – in China we are growing more and more multiplexes of Cinemas, whereas in the US and Europe many cinema chains are up for sales or closing down. One conclusion is that the Chinese know better how to run them. Our own conclusion was that Dalian Wanda has just refused to accept that the golden age of the cinema is over. At the same time, China wants to create its own…