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AMC warns investors that it may not survive COVID-19 pandemic

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Paul Sakuma/AP
Exterior view of AMC movie theaters in Santa Clara, Calif., Monday, May 21, 2012. A Chinese conglomerate announced Monday it will buy a major U.S. cinema chain, AMC Entertainment Holdings, for $2.6 billion in China's biggest corporate takeover in the United States to date. AMC operates 346 cinemas, mostly in the United States and Canada, and says it has 23 of the 50 highest-grossing U.S. outlets. (AP Photo/Paul Sakuma)
AMC warns investors that it may not survive COVID-19 pandemic
Posted at 5:14 AM, Jun 04, 2020
and last updated 2020-06-04 11:23:45-04

Movie theater chain AMC warns that it may not survive the coronavirus pandemic, which has shuttered theaters and led film studios to explore releasing more movies directly to viewers over the internet.

The theater business in North America was under pressure even before the pandemic.

AMC and Cinemark hope to start reopening this summer. Even then, they may face cautious moviegoers, delayed films and film studios sometimes bypassing them entirely. AMC says it has enough cash to reopen its theaters this summer.

If it can't do that, it will need more money, which it may not be able to borrow.

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