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.
AMC’s financial woes have led to Amazon considering buying AMC. According to sources speaking with The Daily Mail, it’s unclear if the discussions are still ongoing, but Amazon seems to be interested in acquiring the theater chain. Because of AMC’s near-bankruptcy status, the chain would be cheap and easy for Amazon to purchase. Neither Amazon nor AMC commented on the potential sale. This is not the first time Amazon has considered purchasing movie theaters; the company previously considered buying Landmark Theatres, though they lost out to Cohen Media Group.
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.
