AMC Entertainment has 4.1 million individual shareholders, the company disclosed Wednesday, as it heads towards an annual meeting in late July where all of them will be eligible to show up and vote on whatever’s on the agenda after spending months pumping up the stock on investing chat rooms. “The number of investors who want
AMC Entertainment launched an unusual program today called Investor Connect to communicate directly with a mass of individual investors in the U.S. that now own more than 80% of its stock and have been steadily buoying it higher. “Many of our investors have demonstrated support and confidence in AMC. We intend to communicate often with
Retail investing met marketing genius Wednesday as AMC Entertainment devoted a new area of its website to individual investors, stoking their love, doubling the stock price and — the company hopes — inflating membership of its AMC Stubs loyalty program. AMC has about 3 million individual investors now, 80% of its shareholders base. It was
AMC Entertainment’s onetime owner, China’s Dalian Wanda Group, has pretty much cashed out completely from the theater chain, revealing in an SEC filing Friday that it has pared its stake to a barely there 0.002%. Wanda first acquired AMC’s super-voting Class B stock – with three votes a share – in 2012, making it the
AMC Entertainment CEO Adam Aron was nearly giddy Thursday, quoting Winston Churchill, trying to top him, talking up a box office recovery, the chain’s expanded market share, cash position and hiring plans and millions of new retail investors who have replaced China’s Wanda Group as its core shareholder base. Like an Oscar acceptance speech, he
AMC Entertainment offered a preview of its quarterly earnings Tuesday, anticipating revenue for the three months ended in March of $148 million, way down from $941.5 million the year before as the box office struggled to revive amid the global pandemic. AMC expects to announce a net loss of between $572 million and $567 million.
While the No. 1 exhibitor AMC has traditionally been flexible about theatrical windows despite their pubic uproar against Universal last year, the chain’s CEO Adam Aron speculated today what the landscape would look like when we come out of this pandemic. “What we learned from the Universal agreement, is that every studio seems to have
AMC Entertainment revenue fell last quarter plunged to $162 million from close to $1.5 billion the year as the global pandemic squeezed exhibition. That beat expectations, coming about $20 million above Wall Street’s consensus estimates. The stock is up in late trading. Net losses widened to $946 million, including a hefty one-time impairment charge, from
UPDATED with AMC proxy figures, Aron’s 2020 compensation: In one of the few interviews he has granted during AMC Entertainment’s white-knuckle 2021, CEO Adam Aron hailed the reopening of New York City and shared his thoughts on the “Reddit rally.” Speaking with CNBC (watch the full segment above) on Friday, he said advance ticket sales
AMC Entertainment CEO Adam Aron earned $20.9 million in total compensation last year, double $9.6 million the year before due to a big bonus and stock awards. According to the company’s SEC filing Friday, Aron’s package in 2002 included a base salary of $1.1 million, a bonus of $5 million and stock award of $14.8
AMC Entertainment, the nation’s largest theater chain, said Friday it’s awarding CEO Adam Aron and other executives “supplemental special incentive cash bonuses” to recognize the challenge they faced steering the embattled company on a financial rollercoaster over the past pandemic year. Corporate associates and theatre management will also get special bonuses, with all payouts coming
AMC Entertainment said Silver Lake Group is converting $600 million worth of the theater chain’s debt that it holds into stock at a conversion price of $13.51 a share, a surprise all around considering the exhibitor’s shares were languishing below two bucks earlier this month. The giant investment firm partnered with AMC back in 2018
Struggling AMC Entertainment said early Monday it has raised or signed commitments for $917 million including additional financing since December, calling it “enough cash to “make it through this dark, coronavirus-impacted winter.” “This means that any talk of an imminent bankruptcy for AMC is completely off the table,” said CEO Adam Aron in a statement.
Adam Aron, CEO of AMC Entertainment, said the nation’s largest cinema chain has raised $204 million of the at least $750 million needs to get to the other side of a global pandemic that has crippled moviegoing. AMC raised cash from stock and bonds sales in rounds in April, June, October and most recently in
AMC circuit CEO and President Adam Aron did not have words of hate tonight toward Warner Bros’ (actually, let’s be honest, WarnerMedia’s) decision to take their $200M DC superhero sequel Wonder Woman 1984 into theaters and onto HBO Max on Christmas Day. Aron gave his thumbs up, saying that the movie will play at close
AMC Entertainment said revenue for the September quarter plunged 91% to $119 million. Losses widened to $905 million from $54 million as the financially strapped exhibitor struggles with the impact of the global pandemic. The financially struggling chain’s COVID trials have been high profile and heavy hitting because of its size — the biggest chain
AMC CEO Adam Aron channeled Winston Churchill Monday, comparing the exhibition industry’s last stand against COVID-19 (and Chapter 11) to the U.K.’s fight for survival during World War II. Wall Street analysts on a conference call were too polite to bring up the word bankruptcy directly, nor did Aron. He said again that the chain
AMC Entertainment will resume operations at a dozen theaters in New York State October 23 in accordance with Gov. Andrew Cuomo’s recent, welcome reopening announcement over the weekend that, however, still excluded New York City and a handful of other counties. NY is “vital to the theatrical exhibition industry,” the world’s largest chain said Monday.
Regal Cinemas is taking it to the streets, with the marquee of its iconic and shuttered Times Square multiplex admonishing New York Governor Andrew Cuomo for being just about the last pol in the country to reopen cinemas. “48 states have reopened theatres safely. Why not New York, Governor Cuomo?” blared from that strip of