Rumors have surfaced on the Internet about a possible takeover of AMC Theaters by Amazon. The largest cinema chain in the world has over 1,000 cinemas – some of them in Germany under the name of the UCI cinemas. The coronavirus pandemic is said to bring the AMC Theaters to the brink of bankruptcy. Amazon is said to have received an offer.
The world's largest cinema chain AMC Theaters and Amazon currently appear to be in talks about a potential takeover. This comes from a report on the British website Daily Mail forth. The corona virus pandemic is said to have dramatic consequences for the cinema chain, which according to current sources appears to be on the verge of bankruptcy. The company owns over 11,000 screens in more than 1,000 cinemas.
The AMC Theaters are also represented in Germany in the form of UCI cinemas, which belong to the large group headed by the Wanda Group from China. According to the report, the AMC Theaters have now offered Amazon managers a cheap takeover option. With Prime Video, the mail order giant is now also strongly represented in the field of film and series production. A takeover of a cinema chain could therefore also have an impact on the cinema industry. Amazon is said to have recently been interested in acquiring Landmark Theaters. In the end, the deal went to the Cohen Media Group.
The market value of AMC Theaters has fallen very sharply in the past year. While the company was bought by the Wanda Group for $ 2.6 billion in 2012, the value is now only $ 420 million. At the moment, however, there seems to be a back and forth in the rumors. According to the sources of Deadline there are currently no talks between the two companies. We keep you up to date with news.
Source: Daily Mail
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