{"id":545920,"date":"2023-01-31T16:28:14","date_gmt":"2023-01-31T13:28:14","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/amc-theatres-sells-saudi-joint-venture-stake-for-30-million\/"},"modified":"2023-01-31T16:28:14","modified_gmt":"2023-01-31T13:28:14","slug":"amc-theatres-sells-saudi-joint-venture-stake-for-30-million","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/amc-theatres-sells-saudi-joint-venture-stake-for-30-million\/","title":{"rendered":"#AMC Theatres Sells Saudi Joint Venture Stake for $30 Million"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a41897912390\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a41897912390\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/amc-theatres-sells-saudi-joint-venture-stake-for-30-million\/#AMC_Theatres_Sells_Saudi_Joint_Venture_Stake_for_30_Million\" >AMC Theatres Sells Saudi Joint Venture Stake for $30 Million<\/a><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"AMC_Theatres_Sells_Saudi_Joint_Venture_Stake_for_30_Million\"><\/span>AMC Theatres Sells Saudi Joint Venture Stake for $30 Million<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<div>\n<p class=\"paragraph larva \/\/  a-font-body-m     \">\n    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 \u201cwill transition from a management and investment role to a pure licensing relationship.\u201d<\/p>\n<p class=\"paragraph larva \/\/  a-font-body-m     \">\n    The mega exhibitor, which launched operations in the Middle Eastern country\u00a0in 2018, said its stake in a joint venture has been bought out for $30 million, meaning a repayment of its original investment, by local partner Saudi Entertainment Ventures. AMC will now license its brand and IP to that company.<\/p>\n<p class=\"paragraph larva \/\/  a-font-body-m     \">\n    The current 13 AMC Cinemas locations and future locations will continue to retain the AMC name, but will be run by Saudi Cinema Company as part of the licensing agreement. AMC launched in Saudi Arabia, first in Riyadh, after the Saudi government lifted a 35-year ban on cinemas.<\/p>\n<p class=\"paragraph larva \/\/  a-font-body-m     \">\n    \u201cWhen the joint venture was created, it had two goals. First, to bring moviegoing to the Saudi people. Second, and equally important, to train a theater management and corporate team such that at some point in the future, the enterprise could be run locally within the Kingdom,\u201d AMC chairman and CEO\u00a0Adam Aron\u00a0said in a statement. \u201cAfter more than five years since our first <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/trip-and-travel\/\" data-internallinksmanager029f6b8e52c=\"10\" title=\"Trip &amp; Travel\" target=\"_blank\" rel=\"noopener\">trip<\/a> to\u00a0Saudi Arabia\u00a0and nearly five years since we opened our first theater there, that point in the future is now. This announcement and agreement is the natural next step in this process.\u201d<\/p>\n<p class=\"paragraph larva \/\/  a-font-body-m     \">\n    The exhibition giant is battling a high debt load following disruption to its sector from the pandemic crisis and its impact on the local multiplex.<\/p>\n<p class=\"paragraph larva \/\/  a-font-body-m     \">\n    AMC operates around 950 theatres and 10,500 screens around the world currently.<\/p>\n<\/p><\/div>\n<p><script type=\"text\/plain\" class=\"optanon-category-C0004\">\n!function(f, b, e, v, n, t, s) {\nif (f.fbq) return;\nn = f.fbq = function() {n.callMethod ? n.callMethod.apply(n, arguments) : n.queue.push(arguments);};\nif (!f._fbq) f._fbq = n;\nn.push = n;\nn.loaded = !0;\nn.version = '2.0';\nn.queue = [];\nt = b.createElement(e);\nt.async = !0;\nt.src = v;\ns = b.getElementsByTagName(e)[0];\ns.parentNode.insertBefore(t, s);\n}(window, document, 'script', 'https:\/\/connect.facebook.net\/en_US\/fbevents.js');\nfbq('init', '352999048212581');\nfbq('track', 'PageView');\n<\/script><\/p>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more Like this articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/social-media\/\" target=\"_blank\" rel=\"noopener\">Social Media category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/www.hollywoodreporter.com\/business\/business-news\/amc-theatres-saudi-joint-venture-stake-sale-1235313604\/\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>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 \u201cwill transition from a management and investment role to a pure licensing relationship.\u201d The mega&#8230;<\/p>\n","protected":false},"author":1,"featured_media":545921,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/www.hollywoodreporter.com\/wp-content\/uploads\/2022\/11\/AroundLA232809-H-2022.jpg?w=1024","fifu_image_alt":"","footnotes":""},"categories":[17],"tags":[1544,81144],"class_list":["post-545920","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-social-mediaa","tag-amc-theatres","tag-saudi-arabia"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/545920","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=545920"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/545920\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/545921"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=545920"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=545920"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=545920"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}