AMC Entertainment May File For Bankruptcy For Real As Reopening Stalls

Deadline ^ | 10-13-20 | Jill Goldsmith

[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. It’s 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.

[dynachrome]

What will we do without hollyweird stars to tell us what to think?/s

[sheehan]

Amazon (Bezos) wants to buy it cheap to control more content downstream

[j.havenfarm]

Luckily after it dropped I bought stock ( a goodly but not huge amount), made about 150% when it rebounded, then sold

[dynachrome]

With all the streaming services and big screen TVs, why go to a theater?

[ObozoMustGo2012]

And I have a fridge full of food and beverages, so I dont need to spend $25 on snacks.

[Prince of Space]

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. It’s sad to see it, but I really think many well-known businesses will no longer be standing next year thanks to Covid.

[KTM rider]

so much sad collateral damage due to the COVID19 extortion racket

[immadashell]

Wold called the absence of New York and LA truly crippling.

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.

[Starcitizen]

And that’s 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 didn’t let the CCCP do it during the Cold War

[E. Pluribus Unum]

China is buying-up America on the cheap right now.

The CCP virus was an act of war.

[Viking2002]

Oh, I enjoy the experience when I go, with the exception of the few ever-present pigs who gotta get up every five minutes, make noise, have some 6'5" lunk come in and sit in the seat directly in front of you and block the entire screen with his pumpkin head, then you have to move after scoping out prime seats beforehand. They need to put up one of those tape rules like they have at amusement parks, but with the sign saying, if you are taller than]this[, please sit in one of the three back rows. And I really get angry when one of the machines eats my dollar in the game room. Not to mention paying the price for getting extra butter on a bucket of popcorn, and you and the missus get a case of volcanic popcorn farts four hours later.

Come to think of it, screw the theater. LOL

[PGalt]

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.

[MinorityRepublican]

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.

[dynachrome]

“Haven’t been to a theater or watched a movie in at least 10 years..”

Me, too.

[Arcadian Empire]

Movie theaters are an archaic remnant of the nickelodeon era.

[dynachrome]

I should clarify that I watch old or off the wall movie stuff. “In Harms Way” is on.

[jy8z]

The last time I was in the theater is when I took my kids to see ET.

[catnipman]

“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 ...

[MinorityRepublican]

Maybe. Maybe not. People still like to go out to the movies for a date. Teenagers and young adults.

[dynachrome]

Maybe drive-in movies will come back. There are some start ups.