AMC (AMC) CEO Hints at Potential M&A, Gives Shout-Out to WSB 'Apes'

StreetInsider2021-04-02

AMC (NYSE: AMC) CEO Adam Aron hinted to shareholders Thursday that the movie theater chain may be contemplating mergers to consolidate the beleaguered sector, in addition to other options.In an ...

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KelvinKan
2021-04-05
KelvinKan
Ape is strong togethet
BlackJesus
2021-04-02
BlackJesus
This is the way

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A merger between the two, which may have been frowned upon by antitrust regulators pre-COVID, could be more of a reality as movie distributors like Disney and Waner Bros. are going direct-to-consumer with some of their releases.During the interview, Aron also admitted the company was close to running out of cash five times due to the pandemic. Aron said since the pandemic the company has raised $2.8 billion and received another $1 billion in concession from lenders and landlords.The CEO was positive that the vaccine roll-out will bring moviegoers back to his theatres and noted that last night's attendance for the new release Godzilla vs. Kong was 10x all the other Wednesdays this year.Aron also thanked retail investors, including those on Wallstreetbets, for saving the company and taking bankruptcy 'completely' off the table. 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