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Cinema giant AMC Theatres swung to a second-quarter profit as revenue jumped 15.6 percent to $1.35 billion and touted its highest quarterly attendance in years, but also issued a warning of possible liquidity challenges ahead. Earnings for the second quarter hit $8.6 million, compared to a loss of $121.6 million in the comparable period of…
Shares in AMC Theatres soared by just over 60 percent late Friday — and at one point by 100 percent — after a Delaware Court judge blocked parent AMC Entertainment Holdings from proceeding with a plan to convert AMC Preferred Equity Units, or so-called APEs, into the company’s common shares. Vice Chancellor Morgan T. Zurn of…
AMC Theatres is abandoning its “Sightline” pricing strategy, which charged different prices for seats in different locations within each theater. First announced in February, AMC’s plan involved charging higher prices for the best seats in each theater, and lower prices for seats at the very front of the auditoriums. The company said Thursday that it…
AMC Theatres has settled a shareholder lawsuit that threatened a planned reverse stock split arising from a conversion of AMC Preferred Equity Units, or APEs, into common stock. AMC Entertainment Holdings, parent of the mega-exhibitor and led by CEO Adam Aron, in an SEC filing said it entered into an April 2 settlement agreement that…
AMC Theatres Sells Saudi Joint Venture Stake for $30 Million AMC Theatres is stepping back from managing its cinemas in Saudi Arabia as it deals with a high debt load coming out of the COVID pandemic, saying on Tuesday it “will transition from a management and investment role to a pure licensing relationship.” The mega…
AMC Theatres Adds Former Sundance Chief Keri Putnam, Tech Exec Dee Clark to Board as It Faces Critical 2023 Ahead of what will be a critical 2023 for the company, AMC Entertainment, the owner of the AMC Theatres chain, is shaking up its board of directors. Lee Wittlinger, a managing director at investment firm Silver…
AMC Theatres Hopes Its Next Gold Mine Is a Credit Card AMC Theatres has found its next investment to appease its retail investors. The movie theater chain is set to launch an AMC Entertainment Visa Card in early 2023 in partnership with Visa and Deserve, a digital credit card platform. Credit card holders will be…
Movie Theater Stocks Surge Amid Report Amazon Plans $1B Theatrical Push Cinemas stocks got a boost Wednesday after a report that online retailer Amazon plans to spend $1 billion a year on theatrical film releases. Bloomberg, citing unnamed sources, reported Amazon plans to release 12 to 15 movies in theaters, with the push into the…
“#AMC Wants to Buy ArcLight and Pacific Theatres Venues – /Film” The pandemic has taken a toll on movie theaters. Earlier this year, it was announced that the Los Angeles ArcLight Cinemas and Pacific Theatres would be closing for good, including the famous Hollywood Arclight multiplex on Sunset Boulevard and its iconic Cinerama Dome. The news…
“#Masks at Theaters Like AMC and Regal Are No Longer Required – /Film” AMC, Regal, and Cinemark, the three largest movie theater chains in the United States, announced today that guests will no longer be required to wear masks at their locations, provided that those guests have received both doses of the COVID-19 vaccine. Masks…