AMC theaters could serve as a platform for 12 to 15 movies Amazon plans to release in cinemas annually.
AMC Entertainment Holdings Inc. rose 13% after the Intersect website reported thatAmazon has investment advisers looking at a possible takeover of the chain, which has a market value of about $4 billion, the site reported.
Shares of AMC, the world’s largest theater chain and a popular meme stock, closed at $5.15 Tuesday after rising as much as 21%. The company has struggled financially as consumers have returned slowly to cinemas following the COVID-19 pandemic. AMC isn’t the only ailing chain. Cineworld Group Plc, another major theater operator, is expected to emerge from bankruptcy in June. It operates Regal cinemas in the U.S.“Amazon would be better off buying a piece of Cineworld,” Wedbush Securities analyst Alicia Reese wrote in a research note, saying that would be a lower-risk strategy. “We do not think that AMC is a likely acquisition target in general, given its massive debt and inflated valuation.
AMC shares also jumped in 2021 on speculation of an Amazon acquisition that never materialized. At the time, the chain was swept up inAMC theaters could serve as a platform for the 12 to 15 movies Amazon plans to release in cinemas annually, the website said. Bloomberg News reported last year that Amazon is planning an ambitious slate of films. Apple Inc. is also ramping up output.
Norge Siste Nytt, Norge Overskrifter
Similar News:Du kan også lese nyheter som ligner på denne som vi har samlet inn fra andre nyhetskilder.
AMC stock price surges on report Amazon might buy movie theater chainAMC surges 18% on report that Amazon may be interested in buying the movie theater chain
Les mer »
AMC jumps after report of possible Amazon interestAMC Entertainment Holdings Inc.’s stock jumped 15.6% Tuesday after the Intersect reported that Amazon.com Inc. is weighing an acquisition of the movie...
Les mer »
Amazon reportedly interested in buying AMC EntertainmentJeff Bezos has reportedly dispatched his investment advisers and top entertainment chiefs to explore acquisition plans.
Les mer »
AMC Entertainment shares jump on report Amazon exploring a dealShares of AMC Entertainment Holdings Inc jumped more than 18% on Tuesday, set for their biggest gain in a month, after a report that ecommerce giant Amazon.com Inc was looking to buy the theater chain.
Les mer »
Amazon reportedly considering purchase of AMC EntertainmentAmazon is reportedly looking into the potential purchase of AMC Entertainment and its chain of movie theaters as a means of boosting its physical marketing presence.
Les mer »
Forget AMC, Cineworld is a better acquisition target for Amazon, say analystsAnalysts have been weighing Amazon’s prospects in the cinema space.
Les mer »