AMC Entertainment shares fell almost 18% to close at $3.19, with Cinemark stock also taking a hit after a report that Cinemark has expressed interest in operating select AMC venues.Insiders at both companies describe the report as inaccurate.
The New York Post, citing unidentified sources, reported that the two major circuits — which together control nearly one-third of all U.S.
movie screens — could find themselves in an arrangement reflecting the strain of Covid-19. The coronavirus pandemic has shuttered theaters in much of the country, notably in revenue-rich markets like New York and LA, for most of 2020.Cinemark has expressed interest in stepping in to run any venues where AMC is in default, the Post said, though no specific sites or
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