{"id":1783493,"date":"2022-12-22T06:12:12","date_gmt":"2022-12-22T11:12:12","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1783493"},"modified":"2022-12-22T06:18:39","modified_gmt":"2022-12-22T11:18:39","slug":"amc-hits-pause-on-acquisition-of-some-cineworld-theaters","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/amc-hits-pause-on-acquisition-of-some-cineworld-theaters\/","title":{"rendered":"AMC Hits Pause on Acquisition of Some Cineworld Theaters"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"float:left\"><div class=\"counts mashsbcount\">18<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Famc-hits-pause-on-acquisition-of-some-cineworld-theaters%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1783493&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47-->\n<div class=\"featured featured-video video-ct\">\n<div class=\"contain\">\n<div class=\"info\">\n<div class=\"caption\">\n<p>AMC Entertainment president and CEO Adam Aron explains the new class of securities and the complexities of its AMC preferred equity transaction on &#8216;The Claman Countdown.&#8217;<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<p><a href=\"https:\/\/www.foxbusiness.com\/quote?stockTicker=AMC\" target=\"_blank\" rel=\"noopener\">AMC Entertainment<\/a> said Wednesday in a regulatory filing that discussions it had with certain Cineworld lenders about potentially buying some of the rival movie chain\u2019s theaters &#8220;are not continuing&#8221; at this time.\u00a0<\/p>\n<table class=\"stock-fundamentals\">\n<thead>\n<tr>\n<th class=\"ticker\">Ticker<\/th>\n<th class=\"security\">Security<\/th>\n<th class=\"last\">Last<\/th>\n<th class=\"change\">Change<\/th>\n<th class=\"percent\">Change %<\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td class=\"ticker\"><a href=\"https:\/\/www.foxbusiness.com\/quote?stockTicker=AMC\">AMC<\/a><\/td>\n<td class=\"security\">AMC ENTERTAINMENT<\/td>\n<td class=\"last\">5.30<\/td>\n<td class=\"change pos\">+0.22<\/td>\n<td class=\"percent pos\">+4.33%<\/td>\n<\/tr>\n<tr>\n<td class=\"ticker\"><a href=\"https:\/\/www.foxbusiness.com\/quote?stockTicker=APE\">APE<\/a><\/td>\n<td class=\"security\">AMC ENTERTAINMENT<\/td>\n<td class=\"last\">0.69<\/td>\n<td class=\"change pos\">+0.01<\/td>\n<td class=\"percent pos\">+1.59%<\/td>\n<\/tr>\n<tr><\/tr>\n<\/tbody>\n<\/table>\n<p>The world\u2019s largest cinema chain said in the <a href=\"https:\/\/www.sec.gov\/ix?doc=\/Archives\/edgar\/data\/0001411579\/000110465922128861\/tm2233202d1_8k.htm\">Securities and Exchange Commission filing<\/a> that possibly buying some Cineworld theaters in the U.S. and Europe was the focus of the talks. Cineworld, the U.K. parent company of Regal Cinemas that filed for <a href=\"https:\/\/www.foxbusiness.com\/category\/bankruptcy\" target=\"_blank\" rel=\"noopener\">bankruptcy<\/a> in September, has over 9,100 screens and operates in numerous countries.<\/p>\n<p><a href=\"https:\/\/www.foxbusiness.com\/lifestyle\/regal-cinemas-parent-cineworld-files-for-bankruptcy\" target=\"_blank\" rel=\"noopener\"><strong>REGAL CINEMAS PARENT CINEWORLD FILES FOR BANKRUPTCY<\/strong><\/a><\/p>\n<p>Financing would have partly come from AMC issuing <a href=\"https:\/\/www.foxbusiness.com\/quote?stockTicker=APE\" target=\"_blank\" rel=\"noopener\">APEs<\/a> and the lenders providing debt financing, according to the filing. In August, the company issued APE preferred equity units as a special dividend, with them having since <a href=\"https:\/\/www.foxbusiness.com\/entertainment\/amc-ape-units-begin-trading-wall-street\" target=\"_blank\" rel=\"noopener\">started trading<\/a> on the New York Stock Exchange.<\/p>\n<div class=\"inline image-ct\">\n<div class=\"m\"><source media=\"(max-width: 767px)\" \/><source media=\"(min-width: 768px) and (max-width: 1023px)\" \/><source media=\"(min-width: 1024px) and (max-width: 1279px)\" \/><source media=\"(min-width: 1280px)\" \/><img decoding=\"async\" src=\"https:\/\/a57.foxnews.com\/static.foxbusiness.com\/foxbusiness.com\/content\/uploads\/2021\/04\/931\/523\/amc-new-.jpg?ve=1&#038;tl=1\" alt=\"image\"   style=\"display:none\"><\/div>\n<div class=\"caption\">\n<p><span>AMC operates 10,500 screens in roughly 940 theaters around the world.<\/span><span> (iStock \/ iStock)<\/span><\/p>\n<\/div>\n<\/div>\n<p>The movie theater chain said in the Wednesday filing that a &#8220;definitive agreement with the Lenders has not been reached regarding the terms of any proposal to be presented to the debtors in the Cineworld cases, and at this time negotiations are not continuing.&#8221;<\/p>\n<p><a href=\"https:\/\/www.foxbusiness.com\/\" target=\"_blank\" rel=\"noopener\"><strong>CLICK HERE TO READ MORE ON FOX BUSINESS<\/strong><\/a><\/p>\n<p>&#8220;While AMC reserves the right to continue to explore the acquisition of value enhancing strategic assets, there can be no assurance that AMC will resume any discussions with the Lenders or, if it were to do so, that it would be able to agree with Lenders or any other party as to the terms of a mutually acceptable proposal,&#8221; the company continued in the filing.\u00a0<\/p>\n<div class=\"inline image-ct\">\n<div class=\"m\"><source media=\"(max-width: 767px)\" \/><source media=\"(min-width: 768px) and (max-width: 1023px)\" \/><source media=\"(min-width: 1024px) and (max-width: 1279px)\" \/><source media=\"(min-width: 1280px)\" \/><img decoding=\"async\" src=\"https:\/\/a57.foxnews.com\/static.foxbusiness.com\/foxbusiness.com\/content\/uploads\/2021\/01\/931\/523\/AP20291592090212.jpg?ve=1&#038;tl=1\" alt=\"An AMC theater marquee\" \/><\/div>\n<div class=\"caption\">\n<p><span>The AMC Empire 25 theater in Times Square in New York, May 13, 2020.\u00a0<\/span><span> (Evan Agostini\/Invision\/AP, File \/ AP Newsroom)<\/span><\/p>\n<\/div>\n<\/div>\n<div class=\"inline image-ct\">\n<div class=\"m\"><source media=\"(max-width: 767px)\" \/><source media=\"(min-width: 768px) and (max-width: 1023px)\" \/><source media=\"(min-width: 1024px) and (max-width: 1279px)\" \/><source media=\"(min-width: 1280px)\" \/><img decoding=\"async\" src=\"https:\/\/a57.foxnews.com\/static.foxbusiness.com\/foxbusiness.com\/content\/uploads\/2020\/11\/931\/523\/AP20304466053135.jpg?ve=1&#038;tl=1\" alt=\"image\" \/><\/div>\n<div class=\"caption\">\n<p><span>The AMC Burbank 16 movie theater complex, April 29, 2020, in Burbank, California.<\/span><span> (AP Photo\/Chris Pizzello, File \/ AP Newsroom)<\/span><\/p>\n<\/div>\n<\/div>\n<p>When Cineworld filed for bankruptcy in September, CEO Mooky Greidinger said the COVID-19 pandemic &#8220;was an incredibly difficult time for our business, with the enforced closure of cinemas and huge disruption to <a href=\"https:\/\/www.foxbusiness.com\/category\/movies\" target=\"_blank\" rel=\"noopener\">film schedules<\/a> that has led us to this point.&#8221; The movie theater chain, in the press release announcing its Chapter 11 filing, said it expected its global business to operate &#8220;as usual&#8221; while undergoing the reorganization process.<\/p>\n<p><a href=\"https:\/\/www.foxbusiness.com\/markets\/amc-ceo-reacts-cineworld-bankruptcy\" target=\"_blank\" rel=\"noopener\"><strong>AMC CEO REACTS TO CINEWORLD BANKRUPTCY<\/strong><\/a><\/p>\n<p>AMC operates 10,500 screens in <a href=\"https:\/\/www.foxbusiness.com\/category\/entertainment\" target=\"_blank\" rel=\"noopener\">roughly 940 theaters<\/a> around the world. In November, it reported $968.4 million in <a href=\"https:\/\/www.foxbusiness.com\/category\/earnings\" target=\"_blank\" rel=\"noopener\">third-quarter revenues<\/a>, a nearly 27% increase for the same period in 2021 when it generated $763.1 million. Its net loss widened slightly from $224.2 million to $226.9 million.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>AMC Entertainment president and CEO Adam Aron explains the new class of securities and the complexities of its AMC preferred equity transaction on &#8216;The Claman Countdown.&#8217; AMC<\/p>\n","protected":false},"author":1,"featured_media":1783496,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[547],"tags":[6962,11089,11091,5458,11090,7948,4782,3819,5029,10230],"class_list":["post-1783493","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-the-bongino-report","tag-the","tag-acquisition","tag-amc","tag-bongino","tag-cineworld","tag-hits","tag-pause","tag-report","tag-some","tag-theaters"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1783493","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1783493"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1783493\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/1783496"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1783493"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1783493"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1783493"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}