AMC shares climbed after its CEO said the company in 2021 won't use 500 million new shares even if shareholders authorize their issuance.
Since December, AMC's largest shareholder, the Chinese conglomerate Dalian Wanda Group Co. trimmed its stake from over 30% to 9.8%.
Public-health experts say it's probably safe for vaccinated people to meet for dinner or gather together indoors.
Other top AMC execs are entitled to bonuses of between $173,000 and $507,000, AMC said in a regulatory filing.
Investors have begun reallocating their portfolio into so-called reopening sectors from travel to leisure as the number of coronavirus cases declined.
Director Christopher Nolan has spoken out against Warner Bros.’ decision to release all its 2021 movies on the HBO Max streaming platform alongside theatres, saying it makes “no economic sense.” Nolan, who has an 18-year history with Warner Bros., also called HBO Max “the worst streaming service” in a statement […]
The number of visitors to cinemas owned by AMC, the world’s largest theatre chain, has fallen 90% year-on-year, and its revenue has plummeted to match. The company on Monday reported a pre-tax loss of $US901 million in the quarter. AMC sold just 6.5 million tickets in the quarter, down from […]
MGM held discussions with Netflix and Apple about releasing “No Time To Die” directly on their streaming platforms, sources told Bloomberg. MGM wanted around $US600 million for the upcoming James Bond instalment, but the streaming giants only wanted to pay half this price, Deadline reported. MGM has pushed back the […]
AMC fell as much as 25% Wednesday, extending its selloff for the second day after reporting that it may run out of cash before the end of the year. On Tuesday evening AMC CEO Adam Aron told Bloomberg that the theatre chain is not considering bankruptcy at the moment and […]
AMC stock slid as much as 11% after the company said in an SEC filing it could run out of cash by the end of 2020 or early 2021. The theatre industry has been slammed by weakened demand, delays to major releases, and still-heightened coronavirus case counts. AMC continues to […]
“Wonder Woman” director Patty Jenkins fears the pandemic could cause movie-going to be lost “forever.” Jenkins’ own “Wonder Woman 1984” is among many big releases that have been delayed due to the pandemic. Last week, Cineworld, the world’s second-largest cinema owner, announced the temporary closure of its 536 Regal Cinemas. […]
Regal is closing its more than 500 US theatres indefinitely due to the coronavirus pandemic and a lack of new releases to show. The closure is expected to affect as many as 45,000 jobs in the US and UK. See how the chain was founded in Knoxville, Tennesee, and grew […]
Regal Entertainment Group is likely to close all of its US locations as the coronavirus pandemic continues to wreak havoc on release plans, The Wall Street Journal reported Sunday. After “Tenet” fuelled the reopening of hundreds of theatres around the US, postponed movies including the latest James Bond title pull […]
Layer design studio created a safer movie theatre sesat during a pandemic. The film industry could lose $US10 billion dollars as a result of COVID-19. The Sequel Seat design has antibacterial fabric and protective screens. Visit Business Insider’s homepage for more stories. The coronavirus pandemic has been brutal to many […]
Dr. Anthony Fauci, the US’s leading expert on COVID-19, said theatres and cinemas likely won’t be back to normal, welcoming a mask-less public, for at least another year. Fauci told the actress Jennifer Garner during an Instagram Live broadcast on Wednesday that a vaccine would need to be out for […]
AMC shares rallied as much as 13% in early Wednesday trading after the theatre chain announced plans to have 420 locations operating by the weekend. The company aims to reopen 140 theatres over the week, AMC said in a press release. The majority of reopenings come in time for the […]
“Doctor Strange” director Scott Derrickson tweeted a warning to viewers advising them against going to any movie theatres, despite Christopher Nolan’s “Tenet” being released in most US theatres on September 3. Derrickson, who clarified he was speaking to his “fellow Americans,” tweeted: “Don’t go see ‘Tenet’ or any other movie […]