Latest in AMC Entertainment

S&P Global said the world’s largest exhibitor AMC Entertainment risks running out of cash by mid-summer and the ratings agency doesn’t think movie theaters will reopen in June – a prediction AMC CEO Adam Aron made on CNBC this week. “We expect AMC Entertainment … theaters will remain closed beyond June due to the…

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…

It’s officially a trend: Cinemark CEO Mark Zoradi and the theater chain’s board of directors are following executives from Disney, which is cutting salaries, and AMC Entertainment, which furloughed its entire staff including CEO Adam Aron, to save cash during the coronavirus pandemic. In the case of Zoradi, neither he…

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…

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…

UPDATED with market close The market plunged nearly 13% Monday creating a wasteland of lost value as a wave of panic set in over the trajectory of the coronavirus in the U.S. exacerbated in the final minutes of trading by President Trump’s comments the crisis could continue through the summer. He announced new…

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 Ente…

UPDATED with closing numbers: The stock market had one of its best days Friday after one of its worst the day before, with the Dow Jones Industrial Average up by almost 2,000 points, or 9.36%. Investors have been killing stocks as the coronavirus pandemic threatens global growth and the health of U.S. companies with…

Media stocks plunged amidst general carnage in the markets Monday with movie theater shares – AMC Entertainment, Cinemark, National Cinemedia, hard hard hit but declines across sectors from broadcasting to entertainment to satellite. The tech sector was down 20% from its all time-time. In its worst single-day decline…

AMC Entertainment said Monday it hired Mark Pearson in the newly created role of chief strategy officer to lead strategy, business development, alliances and partnerships, including with streaming services worldwide. Pearson was previously executive VP, Business Development, Operations and Strategy at 20th Century Fox…

UPDATED with details of executive compensation plan: In an unusual move for a big public company and a bid to buck up the malingering stock, AMC’s 14 top executives including CEO Adam Aron agreed to slash their cash salary and bonuses for three years in exchange for stock that will only vest if the price doubles or…

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 a reported 219…