Theater chain AMC will make a handsome profit from distributing Taylor Swift: The Eras Tour and from its box office grosses, which passed $232 million globally, said CEO Adam Aron. He declined to give any numbers until year end since both Swift — and Renaissance: A Film By Beyoncé, which launches Dec. 1 — fall
AMC Entertainment
AMC shares plunged today despite record quarterly earnings as the giant theater chain filed with SEC to sell up to $350 million worth of stock — offsetting any bump that could been expected from solid financials and an end to the actors’ strike. Shares were trading up this morning pre-market but reversed course when the
AMC Entertainment swung to a profit last quarter and saw revenue jump 45%, besting Wall Street forecasts. CEO Adam Aron found the numbers “quite satisfying.” But, he said, the short-term impacts of the writer’s and actor’s strikes will cause additional and needless challenges for AMC in 2024. Without taking sides as to who is to
Renaissance: A Film By Beyoncé, the theatrical release chronicling Beyoncé’s global world tour, will premiere in Los Angeles Nov. 25 and London Nov. 30 before hitting movie theaters around the world December 1. Tickets will be available Nov. 9 in most international markets including Africa, Asia, Australia, Europe, South America and the Caribbean, Parkwood Entertainment and
AMC Entertainment shares rallied as the company completed a previously disclosed equity offering, raising about $325.5 million of new capital. The company said it sold 40 million shares at an average price of approximately $8.14 per share. The move significantly boosts AMC’s cash reserves, addresses current liquidity concerns, and fortifies the balance sheet, AMC said.
Imax CEO Rich Gelfond turned a media conference Q&A back on the host today, grilling a Goldman Sachs analyst about the firm’s two-year ‘sell’ rating on the stock when, he said, much of the Street has a ‘buy’. The two were discussing Gelfond’s $1.1 billion box office projection for Imax, made earlier this year,
AMC Entertainment is setting the table to sell up to 40 million shares, which it can now do with stockholder approval and after it dispensed with its APE units. But just because stockholders approved a sale doesn’t mean they’re happy with the move, which dilutes their holdings. AMC shares are down more than 20% in
CEO Adam Aron has expounded on Twitter and most recently on AMC Entertainment’s latest earnings call about the risk of a cash crunch and even bankruptcy if it wasn’t able to secure financing in a still uncertain box office climate. Today he can breathe easier as a Delaware Chancery Court Judge approved a revised shareholder
Giant theater chain AMC Entertainment has promoted Ellen Copaken to SVP Marketing, effective immediately. She was also appointed to sit on the company’s management executive committee. Copaken joined AMC in February of as VP, Growth Strategy, and led the exhibitor’s AMC Perfectly Popcorn launch in more than 2,600 Walmart stores (and Walmart.com) ), delivering “sales
AMC Entertainment’s CEO Adam Aron warned that the chain risks financial peril if it can’t raise fresh cash as needed while exhibition continues its post-Covid recovery amid Hollywood strikes. The world’s biggest move chain saw second-quarter earnings surge, sales jump and things looked great in movieland with the three months ended in June and the
CEO Adam Aron said a court ruling Friday that makes it harder for AMC Entertainment to raise cash has serious implications for the circuit’s financial stability — a blowout ‘Barbenheimer’ weekend at the box office and surging share price notwithstanding. “AMC must be in a position to raise equity capital. I repeat, to protect AMC’s
AMC Entertainment set a new post-Covid record for global admissions revenue this past weekend with Barbie and Oppenheimer leading a charge that drew 7.8 million moviegoers to theaters. Warner Bros/Mattel’s Barbie racked up $162 million opening weekend. Universal’s Oppenheimer stands at $82.4 million for a $300 million weekend at the domestic box office. For Imax, Christopher Nolan’s Oppenheimer delivered a $35 million debut
In a contorted legal case, a Delaware judge today struck down a settlement that would have helped AMC Entertainment move ahead with steps to raise cash and shore up its stock. “To cut to the chase, the settlement cannot be approved as submitted,” Judge Morgan Zurn of Delaware Chancery Court wrote in a 69-page opinion
AMC Entertainment is dropping Sightline, a controversial variable pricing program for seating it announced earlier this year. The giant theater chain said today that after a pilot in three locations, it saw little or no increase in patronage of cheaper front row seating, despite a modest price reduction for the seats. The test did show
AMC Entertainment chief executive Adam Aron said a booming box office and sharp pivot to theatrical by studios and streamers makes him “as relaxed and confident about AMC future as I possibly can be.” Speaking with Deadline at CinemaCon in Las Vegas on Tuesday, Aron indicated the icing on the cake would be a judge’s
The judge in a case brought by meme stock shareholders against AMC Entertainment declined to approve a settlement unveiled earlier this week that would have allowed the exhibitor to move ahead with plans to convert its AMC Preferred Equity units (APEs) to common stock, among other measures. AMC on April 3 entered into a binding
AMC Entertainment has taken a big step forward on a few key fronts, announcing a settlement in a shareholder lawsuit that would allow it to issue stock, raise capital, convert its APE units and go ahead with a ten-for-one reverse stock split – basically a lifeline if it needs one. Shareholders had approved the much-needed
AMC stockholders today overwhelmingly approved a pair of provisions that would dramatically enhance the company’s ability raise fresh cash by issuing and selling shares and boost the price of the company’s shares in a ten-for-one-reverse stock split. The approval at a special meeting of shareholders help virtually would also trigger the immediate conversion of AMC
AMC Entertainment will debut its new retail popcorn line at hundreds of Walmart locations on March 11 – Academy Awards weekend, the company announced this morning. CEO Adam Aron’s latest push to diversify the giant movie chain, from a gold mine to an AMC-branded credit card, will include three flavors of both microwave and ready-to-eat
Giant movie chain AMC Entertainment saw revenue dip 15% last quarter to $991 million and losses widen on a one-time impairment charge in a fourth quarter was tough on exhibition in general with Avatar: The Way Of Water hitting late in the year, and a few misfires. A fuller release sked led by a steadier
Actor Elijah Wood is not a fan of AMC Entertainment’s latest move around ticketing that sets different prices for different seats inside its theaters. “The movie theater is and always has been a sacred democratic space for all and this new initiative by @AMCTheatres would essentially penalize people for lower income and reward for higher
Theater chain AMC Entertainment is now shifting ticket prices depending on where seats are located in theaters in an initiative called Sightline AMC. The seating selections based on their sightline of the movie screen within the auditorium include Value Sightline, Standard Sightline and Preferred Sightline sections. Standard Sightline, the most common, is sticking to the
AMC Entertainment said Saudi Entertainment Ventures (SEVEN) will buy out its investment in movie theater venture, Saudi Cinema Company, for $30 million AMC said the agreement calls for it to transition from a management and investment role in SCC to “a pure licensing relationship.” Current AMC Cinemas and future locations operated by SCC will retain
Regal parent Cineworld said it’s opted to pursue a sale of assets and the process “is well under way” with non-binding bids due February 16. The company said in a bankruptcy filing this week that it’s reached out to 30 “potential transaction parties” including many competitors. If the debtors (Cineworld and its affiliates) find one
Judge Marvin Isgur on Wednesday told parties to the Cineworld bankruptcy that they need to speed things up as debtors and creditors hash out a restructuring plan for the giant movie chain, including closing theaters, wrapping up lease negotiations with landlords, and advancing an overall sale process. “We are not going to stick around forever.
AMC Entertainment has rejiggered is board, announcing the election of two new directors and one who is exiting. The former Sundance Institute chief and Miramax production president Keri Putman, a big advocate for independent film, as well as Dee Clark, who has worked in information technology at Hasbro, Mattel, Warner Music and Apple, will join
Adam Aron said today he’s asked the theater chain’s board of directors to freeze his compensation for 2023 given the decline in AMC stock. “Biggest inflation in 40 years, so in 2023 companies will grant large % salary raises. But I do not want “more” when our shareholders are hurting. So, I recommended to the
AMC has picked up another location, announcing today the acquisition of a the former ArcLight theater located at The Hub on Causeway, a large-scale mixed-use development at North Station in Boston. The 13-screen cinema is new — it opened in December 2019 and closed three months later due to Covid-19. The purchase price wasn’t disclosed.
AMC Entertainment plans to offer a co-branded credit card starting in early 2023 for members of its loyalty program, a first in the theatrical exhibition industry and the latest venture by the movie chain, which will also be rolling out its own popcorn for sale at retailers next year. The card is a push
AMC got its meme back Thursday, with the stock surging 27% at its high on heavy volume, way outpacing the broader market and other publicly traded theater chains. The jump was its biggest since May as the stock revisited its days as huge chatroom favorite. Volatility is a hallmark of meme stocks with others like
- 1
- 2
- 3
- 4
- Next Page »