EXCLUSIVE: The nation’s largest theater chain AMC Entertainment is finalizing a deal with bondholders that would slash debt by up to $600 million, bring in $200 million in fresh cash and give it a lifeline into 2021, Deadline has learned. A $500 million bond sale in April as the coronavirus kicked the nation’s economy into
AMC Entertainment
As expected with NYC and LA cinemas still not opened, and Tenet, the first big event pic heading to Aug. 12, the No. 1 exhibitor in the U.S., Europe and the Middle East, AMC, will now reopen its circuit on July 30 instead of July 15. On the new date, the Leawood, KS-based chain will
Stock plunged with showbiz knocked hard as COVID-19 infections surged, three governors issued travel restrictions and investor hopes for a recovery fizzled. The DJIA plunged more than 700 points, or 2.7%, its worst showing in weeks. The S&P 500 and Nasdaq were both down sharply. Media and entertainment stocks, sensitive to advertising, film and TV
Buried in AMC’s Q1 earnings release today on page 3 was the statement, “While we are in active dialogue with Universal, no movies made by Universal Studios are currently on our docket.” The note comes a little bit more than a month after AMC CEO and President Adam Aron alerted the studio in a public
Giant exhib AMC Entertainment said it expects to report ballooning losses of between $2.1 and $2.4 billion for the first quarter ended in March on one-time charges compared with losses of $130 million the year before. Announcing preliminary results Wednesday, it anticipated revenue of $941 million last quarter versus $1.2 billion the year earlier. The
Cinemark Holdings, the nation’s third largest exhibitor will delay reporting its financials for the quarter ended in March. It said in an SEC filing Friday that it plans to report by June 11. The company said it was impossibe to get the numbers and paperwork ready in time given the enormous disruption to its business
China’s Dalian Wanda Group has issued a statement regarding its AMC Entertainment, calling speculation about the chain filing for bankruptcy “pure rumors.” This comes after an S&P Global report last week forecasted AMC’s depletion of cash by mid-summer and its potential inability to re-open by June, and as chatter has swirled about a possible Chapter
In the wake of a S&P Global report that forecasted AMC Entertainment’s depletion of cash by mid-summer and its potential inability to re-open by June, media reports have already written the chain’s obituary. But hold on one moment. While distribution and rival exhibition sources wouldn’t be shocked if AMC files Chapter 11 in the near
AMC Theatres CEO Adam Aron sat down for an interview on CNBC’s Squawk Alley today, telling the show’s hosts that the chain’s possible re-opening between May to mid-June is still “more of the right timing, but nobody knows.” Aron shut down the biggest exhibition chain out of coronavirus safety on March 17, and believes a three-month window
With the closure of movie theaters nationwide out of safety during the coronavirus, layoffs have been rampant, with the Big Three exhibitors contending with these atrocious times in varying degrees of severity. Word began to spread last week among distribution folks that Regal had been the most acerbic out of the three chains in the
Adam Aron, CEO of the nation’s largest movie chain said “the industry has to get liquidity from somewhere” since “we all have expenses and none of us have revenue” after exhibitors closed their doors across the country amidst the spreading coronavirus pandemic. “I am here as a representative of our industry. … The reality is
The world’s largest theater chain may face a cash crunch, forcing it to sell assets or raise dilutive financing as the exhibition business is in an uphill battle against the spreading coronavirus The theater industry was already facing a tough 2020 before Covid-19 hit, noted analyst Alan Gould of Loop Capital. AMC Entertainment’s recently sinking
As a precaution due to the outbreak of the coronavirus in Italy, AMC Theatres boss Adam Aron mentioned today on the exhib chain’s 4Q 2019 earnings call that the exhibitor has closed 22 of its 47 theaters in the country for a week. Since Monday, the number of cases of the coronavirus has spiked from
EXCLUSIVE: Before Hurricane Dorian reaches landfall sometime tonight, some theaters on the central east coasts of Florida have already boarded up including a slew of AMC, Regal and Cinemark multiplexes. Most of these sites aren’t expected to re-open until Tuesday and Wednesday, in time for New Line’s It: Chapter Two which starts previews on Thursday night. Weather
AMC’s Bob Lenihan Departing Theater Chain As President Of Programming – Deadline Click to Skip Ad Closing in… You will be redirected back to your article in seconds Skip to main content August 26, 2019 3:36pm EXCLUSIVE: We are hearing that that AMC’s U.S. President of Programming is leaving the company after a decade’s run.