AMC Theatres
AMC Theatres Settles Shareholder Lawsuit Over Reverse Stock Split Plans
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 […]
- By
Theater Chains to Studios: Please Send Us More Movies
After a disappointing late summer and fall, major movie theater chains pinned hopes on a run of tentpoles that could help prop up the box office — and their bottom lines — from Black Adam to Black Panther: Wakanda Forever and Avatar: The Way of Water. But, one by one, in reporting fourth-quarter earnings in […]
- By
AMC Theatres Quarterly Loss Increases to $287M, Overall Revenues Fall
Despite box office grosses from Avatar: The Way of Water and Black Panther: Wakanda Forever during the holiday period, AMC Entertainment Holdings has seen its fourth-quarter revenues fall and its net loss rise on a non-cash impairment write-down. On Tuesday, the parent of AMC Theatres reported fourth-quarter revenues at $990.9 million, down from a year-earlier […]
- By
AMC Theatres, Walmart Partner on Retail Popcorn Business
AMC Theatres has found a partner for its new retail popcorn business: Walmart. The mega-cinema circuit’s new line of microwave and ready-to-eat popcorn products will launch exclusively in select Walmart stores on March 11. The following month, AMC Perfectly Popcorn varieties will be on the shelves in more than 2,600 Walmart locations and on walmart.com. […]
- By
AMC Theatres’ Seat Pricing Increase: A Risky Bet at a Perilous Time
In a rare if not unprecedented move, theater chains across the U.S. and Canada lowered the cost of admission for a new Hollywood release, the octogenarian sports comedy 80 for Brady, in partnership with Paramount. That included AMC Theatres, the largest circuit in North America and the world. For years, some distribution executives have argued […]
- By
AMC Theatres Unveils Movie Ticket Prices Based on Seat Locations
AMC Theatres is adding sightlines to its cinema experience, along with blockbuster movies. The mega-exhibitor is following music concerts, sporting events and other entertainment venues in setting its ticket pricing strategy to sightlines for seating selections. AMC patrons attending cinemas after 4 p.m. will be able to pay different prices based on their proximity to […]
- By
AMC Theatres Sells Saudi Joint Venture Stake for $30M
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 exhibitor, which launched operations in the Middle Eastern country in 2018, […]
- By
AMC Theatres Shares Surge as Memestock Mania Returns For a Day
AMC Theatres has got its so-called memestock status back as shares in the mega-exhibitor posted a double-digital surge on Wednesday. Parent AMC Entertainment Holdings saw its stock price close at $4.91, up 85 cents or nearly 21 percent, with retail investors piling into the company as financial markets kick into gear for 2023. The latest […]
- By
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 Lake, will step down from the board, with two new members set to be added: Former Sundance chief Keri […]
- By
AMC Theatres CEO Signals Salary Freeze for Top Execs
AMC Theatres CEO Adam Aron has called for a salary and stock pay freeze for himself and other top executives at the exhibition giant as they look to weather the continuing economic storm circling the theatrical movie business. “Biggest inflation in 40 years, so in 2023 companies will grant large % salary raises. But I […]
- By
AMC Theatres Signals Possible End to APE Stock With Investor Vote Proposal
AMC Theatres’ new cash-raising security AMC Preferred Equity (APE) units could become a thing of the past after the exhibition giant called for a special shareholder meeting to vote on converting APE units into AMC common shares, and doing a 1-10 reverse split of common stock. Though economically equivalent to AMC common shares, the value […]
- By
AMC Theatres Held Talks With Cineworld Lenders Over “Potential” Acquisition
AMC Theaters held discussions with some Cineworld lenders about a “potential strategic acquisition” of unspecified theaters in the U.S. and Europe. News of the talks were contained in an SEC filing issued by AMC on Tuesday, and follows the Sept. 7 Chapter 11 bankruptcy filing from Cineworld, the world’s second-largest movie theater company and owner […]
- By