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AMC Theatres Set to Reopen All Theaters Soon Despite Financial Troubles

AMC Theatres Set to Reopen All Theaters Soon Despite Financial Troubles. Nearly a week after Cinemark Theaters announced they will be reopening soon it seems AMC Theatres is now ready to share their re-opening plans for the Summer of 2020.

According to journalist Ashley Carter from Orlando’s Spectrum News 13, AMC Theatres plans to open in time to feature Christopher Nolan’s Tenet (scheduled release: July 17, 2020) and Disney’s live-action Mulan (scheduled release: July 24, 2020).

AMC Theatres plans to reopen almost all of its U.S. theaters in July, in time for the release of Christopher Nolan’s #Tenet (July 17) and Disney’s #Mulan (July 24). pic.twitter.com/QoTtpAoXHB

— Ashley Carter (@AshleyLCarter1) June 9, 2020

Recently, AMC Theatres held a regulatory meeting and stated how they are generating effectively no revenue. It was said in the meeting that the movie theater company had a cash balance of $718.3 million as of April 2020. An AMC representative stated the following:

“We believe we have the cash resources to reopen our theatres and resume our operations this summer or later. Our liquidity needs thereafter will depend, among other things, on the timing of a full resumption of operations, the timing of movie releases and our ability to generate revenues.”

The biggest challenge for the company is continued delay of theatrical releases. Highly anticipated films such as Mulan, Black Widow, and more have been pushed back due to health concerns during the pandemic. Things were looking dire for the company, but it seems the most popular movie theater chain may see new ownership in the near future after it was revealed Amazon.com has taken a heavy interest in the company.

This would explain why AMC Theatres is comfortable re-opening their doors sooner than expected. If a deal was struck between AMC and Amazon this would afford some much needed time for AMC to recoup losses hovering around the $2.18 billion mark from the previous quarter.

A formal re-opening date has yet to be announced, but new guidelines are expected to be announced very soon on how AMC Theatres plans to address issues such as face masks, audience attendance, and cleaning procedures.

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Featured Photo Credit: Disney/AMC Theatres

Source: CBR

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Filed Under: News, Movies, AMC, AMC Theatres

There’s been a lot of speculation about whether or not AMC could survive the summer since they shut down all of their movie theaters in the U.S. as well as the U.K. due to the current global health crisis.

AMC Theater in Disney Springs Before Its Closure

And while the company had previously announced they would keep their theaters closed until studios began releasing new movies, they are currently working on a plan to reopen as many AMC theaters by July as they can.

CNN reporter @frankpallotta first broke the news via Twitter after AMC’s first-quarter earnings report.

AMC just reported its Q1 earnings.

AMC says it’s “looking forward to welcoming guests to its theatres as soon as it is safe and wise to do so, as well as
being permissible under local, state /provincial and federal guidelines.”

— Frank Pallotta (@frankpallotta) June 9, 2020

Some films have had their premieres pushed back, but are quickly approaching. Disney’s Mulan is still slated for a July 24th theatrical release, after being postponed in March. AMC hasn’t shared exactly when they’re hoping to reopen by, but we would expect them to try to be open for the premiere of Mulan.

AMC adds that it is “currently planning to reopen almost all of our U.S. and U.K. theatres in July. Doesn’t give a date.

This is so it can showcase WB’s Tenet, which is slated for July 17, followed by Disney’s Mulan, which is slated for July 24.

— Frank Pallotta (@frankpallotta) June 9, 2020

©Disney

Meanwhile, AMC says “no movies made by Universal Studios are currently on our docket” they are “in active dialogue with Universal.”

AMC adds that it is “in active dialogue with Universal,” but that “no movies made by Universal Studios are currently on our docket.”

— Frank Pallotta (@frankpallotta) June 9, 2020

AMC will implement several health and safety measures as part of their plan to reopen, including lowering guest capacity, spacing out parties, and enhancing their cleaning procedures — similar to what we saw them doing before closing down. We’ll continue to follow this story as it develops.

What movie are you looking forward to seeing when AMC theaters reopen? Tell us in the comments below!

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Filed Under: Disney News, Featured, News, AMC, amc movie theaters, amc theaters, july 24th, Mulan, reopening, reopening movie theaters, studios, theatrical release