As we know everyone is closed, and AMC is struggling like most financially because of the coronavirus pandemic, Amazon is “reportedly” considering buying out the company.
Folks this could go either way… IF They (Amazon) does buy AMC theaters and they keep them alive and use it to show their main features theatrically this would be EPIC and bold.
IF they buy them out just to close the chain and move everything to streaming only online this would be SAD, and depressing. I worked for AMC theaters, and have a lot of great memories from the one I worked in, and so this news is both bitter, and sweet.
It’s being rumored that Amazon might be looking into acquiring AMC Theaters. 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.
“Amazon’s acquisition of AMC could have a massive impact on the entertainment industry, largely because of Amazon’s role as a streaming service. Putting AMC in the hands of Amazon would give the latter the power to control thousands of screens and thus promote their own content to a greater degree than before. This is especially significant now because of the continuing debate of movie theaters versus streaming, which is the primary cause of AMC’s fight with Universal. Amazon buying AMC would bring the two platforms together in a way that hasn’t really been done before.
Of course, this is no guarantee that it will actually happen. Without any definitive statements from either Amazon or AMC, it’s hard to say exactly how their talks are progressing, or even if they still are. Until the two companies speak out, the future is all speculation. It isn’t outside the realm of possibility that Amazon will pour its money into acquiring AMC; perhaps some new information will come out soon.” – As posted over on Screen Rant.
This my friends like I said it could go either way, and while I love streaming tech my heart will always be broken if Theatrical run of movies end. I love that experience, and hope we don’t lose it… There is nothing more relaxing, and enjoyable as a movie fan than watching a new movie in a packed theater, and laughing out loud with a bunch of other people who are strangers but who all find the same joke funny like you. The concept brings us all just slightly more together as people.
I shall be reporting more about this on my show, and also on the site here as this is very important for the entertainment industry moving into the future of films. As many who know me know one of my dreams is to write, and direct movies. So this really is something I’m going to be keeping a close look on.