As AMC Theatres struggles financially because of the coronavirus pandemic, Amazon is reportedly considering buying out the company.
As movie theaters struggle to cope with their coronavirus-related shutdowns, Amazon might be looking into acquiring AMC Theatres. In mid-March, as the outbreak worsened, public spaces began to close down to prevent further spread of the virus. Movie theaters were among them, with chains like AMC, Regal Cinemas, and Showcase Cinemas shuttering their doors. Some hoped to reopen within weeks, but now, two months later, most theaters remain closed. Many aim to reopen in July, though some smaller theaters in states like Georgia and Texas have already begun to attempt getting back to work.
AMC might be the chain suffering the most during the shutdown, as experts recently suggested the company could be facing bankruptcy. AMC remains the largest theater chain in the world, with over 11,000 screens around the globe. That doesn’t seem to have helped the chain, however, judging by its precarious financial situation. AMC also found itself in the news recently when it announced it would no longer show any Universal films following statements made by Universal’s CEO that suggested a growing preference for PVOD.