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AMC Entertainment Holdings, Inc. Comments on Cineworld Public Statement

Retrieved on: 
Thursday, August 18, 2022

AMC Chairman and CEO Adam Aron said, Yesterday Cineworld, which is the worlds second-largest movie theater circuit, issued a public statement that it anticipates low levels of admissions until November 2022, which are expected to negatively impact its liquidity position in the near-term.

Key Points: 
  • AMC Chairman and CEO Adam Aron said, Yesterday Cineworld, which is the worlds second-largest movie theater circuit, issued a public statement that it anticipates low levels of admissions until November 2022, which are expected to negatively impact its liquidity position in the near-term.
  • Aron continued, At AMC, as we have publicly disclosed previously, the film slate in the third quarter of 2022 is expected to be relatively weak.
  • Our new AMC Preferred Equity security, which begins trading on the New York Stock Exchange on Monday August 22, 2022, should also make us a much stronger company.
  • AMC does not intend, and undertakes no duty, to update any information contained herein to reflect future events or circumstances, except as required by applicable law.