AMC Theatres is the largest movie exhibition company in the U.S, Europe, and the world having approximately 1,000 theatres and more than 11,000 screens across the globe, serving annually about 350 million guests. Founded in Kansas City in 1920, it has, over the years, established a reputation. In the 1960’s they introduced the first multiplex, cup holder armrests in the 1980s and the first megaplex in the 1990s. Maurice Durwood, Barney Durwood, Edward Durwood are AMC founders. Today it leads the industry in innovation.
It includes theaters –
- Great food and beverage choices,
- Deploying plush power-recliner seats
- Smartphone and web site app
- Through its loyalty program generating greater guest engagement
- Playing a wide variety of content includes independent programming movie-going more immersive.
The company takes pride in offering “AMC Amazing” experiences to its guests. In the U.S., it operates through the most productive theaters in the top market. Adam Aron is the companies current CEO and president since 2016. He has taken the company to new heights. In 2016 the company acquired ODEON Cinemas (Europe) and Carmike Cinemas (U.S.).
Subsidiaries of “AMC” –
AMC Entertainment, Inc., AMC Loews, Fork & Screen Dine-In Theatres, The Café at AMC, AMC Cinema Suites, AMC Red Kitchen, Carmike Cinemas, Screenvision, National CineMedia, Odeon Cinemas, UCI Cinemas, Starplex Cinemas, George G. Kerasotes Corporation, GKC Indiana Theatres, Inc., Michigan Theatres, Inc., GKC Theatres, Inc., Military Services, Inc, Nordic Cinema Group.
Latest updates on “AMC” –
As per sources Covid-19 pandemic forced AMC Theatres to shut down its business on March 18, 2020. But reopen on August 20, 2020. As per AMC CEO’s update, “any talk of an imminent bankruptcy for AMC is completely off the table after the company disclosed raising $917 million in fresh capital since December to sustain itself through the coronavirus crisis”.
The company raised $506 million in equity. AMC shares issued 164.7 million in new ordinary. Commitment letters were executed for $411 million in debt. The new cash raised through equity and debt would extend its financial runway in 2021 as well. Earlier, the company has warned investors that bankruptcy was possible if the selling stock company failed to fill its cash reserve. The company has the cash to survive.