AMC Entertainment CEO Adam Aron earned $20.9 million in total compensation last year, double $9.6 million the year before due to a big bonus and stock awards. According to the company’s SEC filing Friday, Aron’s package in 2002 included a base salary of $1.1 million, a bonus of $5 million and stock award of $14.8
Exhibition
New York City, the nation’s leading movie market along with still-shuttered Los Angeles, springs back to life Friday after being flattened by Covid-19 for nearly a year. A pulse was detected in advance ticket sales with a handful of shows selling out at AMC Entertainment’s flagship Empire 25 theater in Times Square including a 4:30
NYC Mayor candidate Andrew Yang hit the AMC Empire in Times Square early Friday, buying evening tickets for Eddie Huang’s Boogie and talking to a small group of press as cinemas around the city opened for the first time since last March. “It’s a film set in New York and the filmmaker is Asian American
Imax sales slumped last quarter but beat Wall Street estimates and it swung to a loss. The stock popped in late trading as the company highlighted a strong box office in China and Japan, upbeat outlook and continued sales of its big-screen systems despite the pandemic. Revenue of $56 million was down from $124 million
Austin, Texas-based, dine-in movie theater chain Alamo Drafthouse Cinema has filed for voluntary Chapter 11 in Delaware Court and agreed to sell basically all its assets to an investor group including one of its founders Tim League. The exhibitor, which buckled under the impact of Covid-19, has 37 theaters including locations in LA, Brooklyn and
EXCLUSIVE: The No. 3 U.S. exhibitor Cinemark will not be playing Raya and the Last Dragon this coming weekend as Disney makes the title available both in theaters and as a $30 purchase on Disney+ on March 5. As the major studios experiment widely with theatrical windows during the pandemic, Raya is a clear case that not all
Showbiz shares sparkled Monday, starting off March with a major market rally around reopening, another vaccine rollout, a stimulus bill and a combo of upbeat earnings and streaming forecasts. Johnson & Johnson’s vaccine, the nation’s third, will ship this week and the possibility of $1.9 trillion flowing into the U.S. economy looks increasingly likely after
AMC Entertainment, the nation’s largest theater chain, said Friday it’s awarding CEO Adam Aron and other executives “supplemental special incentive cash bonuses” to recognize the challenge they faced steering the embattled company on a financial rollercoaster over the past pandemic year. Corporate associates and theatre management will also get special bonuses, with all payouts coming
The third new Spider-Man movie between Sony and Disney’s Marvel starring Tom Holland will be titled Spider-Man: No Way Home as revealed today on Tom Holland’s Instagram. See below. Pic’s anticipated release is Dec. 17. In recent days Holland has teased the title for fans, and dropped a first look image from the production with him, Zendaya and
Shares of the nation’s largest theater chain bucked a down market Tuesday, fortifying their advance of the day before after news that cinemas in New York City will open soon after a year-long lockdown as Covid infection rates fall in the city and state. AMC Ent. stock is up 16% in late morning trades after
UPDATE AFTER EXCLUSVE: New York Gov. Andrew Cuomo on Monday said movie theaters in New York City will be brought into line with the rest of New York state as of March 5, when they will be allowed to reopen at 25% capacity with no more than 50 people per screen, masks, social distancing and
Update Feb. 19, 2021: Those wishing to see Elle and Dakota Fanning in WWII drama The Nightingale will have to wait even longer. Sony is pushing the drama to Dec. 23, 2022. The pic was previously moved to Dec. 22 of this year. Elle Fanning is currently in production on Hulu/MRC’s second season of The Great. Christmas
In the span of six days, the Chinese box office roared to a $1.2B Lunar New Year record, with Wanda Pictures’ Detective Chinatown 3 setting global benchmarks for the biggest opening day and weekend in a single market. This happened even as some Covid restrictions remain in place in the Middle Kingdom. While the pandemic
On Wednesday, Chinese New Year box office achieved yet another new milestone with grosses for the holiday period growing to an estimated RMB 7.78B ($1.2B). This beats the previous all-time high set during the comparable 2019 holiday (RMB 5.9B). China often outdoes itself, but the fact that 2021’s Lunar New Year frame came with Covid
New York Gov. Andrew Cuomo Wednesday set reopening dates for amusement parks, indoor family recreation centers and summer camps — the latest venues to get a nod as movie theaters in the city remain shuttered. That’s despite Manhattan having the lowest Covid-19 infection rate in New York — 2.5%, confirmed at the governor’s press briefing
Movie theater advertising network National CineMedia has inked a deal with Harkins Theatres, expanding its foothold in the Southwestern U.S. as it hopes movie-going will pick up this year. Privately-owned Harkins, the nation’s fifth-largest exhibitor and biggest independent chain, has signed a long-term cinema advertising affiliate agreement to bring NCM’s Noovie pre-show entertainment to its
Sony Pictures Classics has made some tweaks to its release schedule for four upcoming pics and one that’s already in theaters. The distributor run by co-presidents Michael Barker and Tom Bernard said that Dror Moreh’s documentary The Human Factor, which opened last month in Los Angeles and New York, will go nationwide in theaters on May 7.
Shares of AMC Entertainment are down nearly 40% today on another wild ride, reversing gains after an explosion of support by retail traders that started last week catapulted stock of the pandemic-pummeled chain to levels not seen since 2017. Around midday, shares of the nation’s largest cinema operator are changing hands at $8.21 That’s still
Shares of the happiest of exhibitors AMC Entertainment continued an upward trajectory Monday fueled by retail traders on Reddit chat rooms, even as a leading Wall Street analyst downgraded the stock to ‘sell’ and valued it at $1. “In our view, the recent volatility and spike in the company’s stock, thanks to the Reddit/WallStreetBets crowd,
AMC Entertainment said Silver Lake Group is converting $600 million worth of the theater chain’s debt that it holds into stock at a conversion price of $13.51 a share, a surprise all around considering the exhibitor’s shares were languishing below two bucks earlier this month. The giant investment firm partnered with AMC back in 2018
As exhibitors get set to report results from the last quarter of their annus horribilis, 2020, one Wall Street bull is predicting record box office in 2023. Eric Wold, a veteran analyst with B. Riley Securities, acknowledged in a note to clients that exhibitors’ efforts to emerge from the abyss of Covid-19 have been hampered
Struggling AMC Entertainment said early Monday it has raised or signed commitments for $917 million including additional financing since December, calling it “enough cash to “make it through this dark, coronavirus-impacted winter.” “This means that any talk of an imminent bankruptcy for AMC is completely off the table,” said CEO Adam Aron in a statement.
Warner Bros is moving The Many Saints of Newark from March 12 to Sept. 24. New Line is releasing. Remember, WarnerMedia announced that its entire 2021 slate is going theatrical and HBO Max at the same time, but big chains like AMC are negotiating terms on a film by film basis. So that means not everything Warners
As we first told you last month, Legendary and Warner Bros are poised to settle their fight over Godzilla vs. Kong, the fourth monster movie between the two which the former financed the $200 million-plus production at 75%, with the movie keeping its simultaneous theatrical and HBO Max release date May 21. Meanwhile, a settlement over
John Stephens, the outgoing CFO of WarnerMedia parent AT&T, defended the company’s move to release its 2021 film slate concurrently on HBO Max and in theaters and cited Warner Bros. century-long relationship with Hollywood talent — with some disgruntled at the move and the way it was communicated. “We’ve got a long history of working
AMC Entertainment CEO Adam Aron said Tuesday that the nation’s largest cinema chain had raised $204 million in two weeks in December out of at least $750 million it needs to get to the other side of a global pandemic that has crippled moviegoing. It was the latest capital raise after previous rounds of AMC
Financially hurting cinema advertising network National CineMedia has inked a deal to run ads with Coinstar, a big operator of supermarket coin-counting kiosks. With the exhibition business on the Covid-19 skids, the agreement helps expand National CineMedia’s digital-out-of-home footprint by extending its movie-centric entertainment content, trivia, and advertising beyond movie theaters to complementary venues. It
It was supposed to be a year when the playing field became even. After losing to Disney for four years in a row, with the Burbank studio setting an industry record in 2019 of $13.2 billion global box office, a new major studio was set to become the domestic king. “I think 2020 is going
It’s historically been a week when we’re reporting on Star Wars movies doing a daily box office average of $20M, but in this distressed Covid environment where 60% of all U.S. and Canadian theaters are closed, we have only to highlight that Warner Bros.’ Wonder Woman 1984 did an estimated $22.5M in its first week. Eeesh. Now
AMC Entertainment on Wednesday filed to sell up to 50 million more shares in an ongoing quest to stay solvent as it outruns the pandemic. The nation’s largest theater chain registered the shares in an SEC filing this morning, adding to the 200 million it previously registered. It said it’s raised $104 million as of
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