(LOS ANGELES TIMES) A Chinese conglomerate took a big leap forward into the U.S. market late Sunday by acquiring AMC Entertainment Inc., the nation’s second-largest theater chain.

It was the latest in a flurry of high-profile deals between the nations’ entertainment industries.

Dalian Wanda Group said in a statement it had reached an agreement to acquire AMC’s 5,034 screens in 346 multiplexes in the U.S. and Canada. AMC, based in Kansas City, Mo., is owned by several investment firms, including JPMorgan Partners, Apollo Investment Fund and Bain Capital Investors.

Note: Read our discussion guidelines before commenting.