BEIJING – A Chinese conglomerate has announced it will buy U.S. cinema chain AMC Entertainment Holdings for $2.6 billion to create the world’s biggest movie theater operator.

Dalian Wanda Group Co. said today it is willing to invest an additional $500 million more to fund AMC’s strategic and operating initiatives.

Wanda said AMC’s headquarters will remain in the Kansas City area and day-to-day operations will remain unchanged.