Another twist has risen in AMC Theatres’ battle to stay afloat as reports surfaced of Amazon exploring a potential purchase of the multinational theater chain, resulting in a substantial bump in AMC’s stock price.
On Monday, business newsletter Intersect reported that Amazon was weighing the possibility of adding AMC to its portfolio. The chain’s more than 600 theaters in the U.S., Europe and Middle East could be used as part of the company’s campaign to expand the theatrical footprint of Amazon Studios, which is set to release more films like Ben Affleck’s “Air” as full theatrical releases as well as films from the recently acquired MGM like “Creed III.”
Following the report’s publication, AMC’s stock saw an 18% increase before closing up 13% to $5.15. The stock has plummeted from its meme stock highs in 2021 and is down 82% from a year ago. While increased box office revenue...
On Monday, business newsletter Intersect reported that Amazon was weighing the possibility of adding AMC to its portfolio. The chain’s more than 600 theaters in the U.S., Europe and Middle East could be used as part of the company’s campaign to expand the theatrical footprint of Amazon Studios, which is set to release more films like Ben Affleck’s “Air” as full theatrical releases as well as films from the recently acquired MGM like “Creed III.”
Following the report’s publication, AMC’s stock saw an 18% increase before closing up 13% to $5.15. The stock has plummeted from its meme stock highs in 2021 and is down 82% from a year ago. While increased box office revenue...
- 3/28/2023
- by Jeremy Fuster
- The Wrap
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