Skip to comments.AMC Entertainment May File For Bankruptcy For Real As Reopening Stalls
Posted on 10/13/2020 6:07:52 PM PDT by dynachrome
Exhibition shares took a beating Tuesday as AMC Entertainment announced its cash might be gone by year end and Walt Disney became the latest big content company to restructure operations around streaming.
As theaters reopen to limited audiences without key New York and Los Angeles markets and a paucity of new studio fare, heavily indebted AMC said in an SEC filing that it has enough cash to last until late this year-early next and would require material additional capital to operate beyond that point. Its not a given that capital will appear, or enough of it, reviving speculation on Wall Street that AMC may be forced to file for bankruptcy.
(Excerpt) Read more at deadline.com ...
Amazon (Bezos) wants to buy it cheap to control more content downstream
Luckily after it dropped I bought stock ( a goodly but not huge amount), made about 150% when it rebounded, then sold
With all the streaming services and big screen TVs, why go to a theater?
And I have a fridge full of food and beverages, so I dont need to spend $25 on snacks.
I used to be afraid of picking up bed bugs from theatre seats. Now the thought of being packed in a movie theatre with a bunch of strangers has zero appeal to me. Its sad to see it, but I really think many well-known businesses will no longer be standing next year thanks to Covid.
so much sad collateral damage due to the COVID19 extortion racket
I bet they could spend a few million to convince the governors of each state to allow them to reopen. After going easy on rioters, professional sports and peaceful demonstrators (BLM, Antifa, etc,) then only churches would be restricted from resuming normal operations.
And thats a bad thing why? Ban the company until it is an American Company again, under American Ownership. Why are we letting the filthy PRC Communist enemy buy up our corporations? We didnt let the CCCP do it during the Cold War
China is buying-up America on the cheap right now.
The CCP virus was an act of war.
Come to think of it, screw the theater. LOL
Haven’t been to a theater or watched a movie in at least 10 years....without teehee for 8 years. Life is great. DEPROGRAM yourself.
If AMC fails, somebody will form a new company. That’s Capitalism. K-mart and Sears used to be everywhere. Now they’re dead. But now we have Amazon. Funny Sears was the 19th and 20th Century version of Amazon. Mail order catalogs.
“Havent been to a theater or watched a movie in at least 10 years..”
Movie theaters are an archaic remnant of the nickelodeon era.
I should clarify that I watch old or off the wall movie stuff. “In Harms Way” is on.
The last time I was in the theater is when I took my kids to see ET.
“If AMC fails, somebody will form a new company.”
that didn’t work for bankrupt buggy-whip makers, and it’s may not work for theaters as entertainment viewing habits may be permanently altered ...
Maybe. Maybe not. People still like to go out to the movies for a date. Teenagers and young adults.
Maybe drive-in movies will come back. There are some start ups.
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