Their 12-month mean target price for AMC stock is $3.50, which is 34.1 percent lower than its price on Thursday. AMC Theatres, the nation’s largest movie theater chain, will reopen in the U.S. on Aug. 20 with retro ticket prices of 15 cents per movie.They’re calling the reopening "Movies in 2020 at 1920 Prices.” https://t.co/zaEZMJMHSH. After Aug. 20, the movie tickets will still be available at a lower rate than usual. The company is also investing millions of dollars in new sanitation equipment, including electrostatic sprayers, HEPA vacuums and upgraded MERV 13 ventilation filters, Aron said. During phase two, AMC’s advance ticketing system will automatically block out one seat on either side of every party and the seats in the rows in front of and behind each party. AMC stock is trading 56.2 percent below its 52-week high of $12.13 and 172.3 percent above its 52-week low of $1.95. “Then they’ll feel much more comfortable going out.”. L.A.’s storied Magic Castle shaken by allegations of sexual misconduct, racism. Cinema owners are hopeful they will be able to ramp up for at least part of the summer. The company expects to reopen two-thirds of its nearly 600 U.S. theaters before the release of Christopher Nolan's thriller Tenet on Sept. 3. Whereas the sports and live music businesses rely on packed houses, the vast majority of movie tickets go unsold each year. Warner Bros.’ 2021 movies: What will debut on HBO Max and in theaters? The studios were not offering any new movies. Activision Blizzard sues Netflix for poaching CFO Spencer Neumann. AMC reported its second-quarter earnings results on Aug. 6. AMC Theatres will reopen select locations starting on Aug. 20 with more cities opening on Aug. 27 and Sept. 3. The cinema chain operator plans to charge 15 cents per ticket. AMC’s announcement comes a day after Plano, Texas-based rival Cinemark said it will start reopening Friday, adding a long list of new measures that it hopes will counter risks of coronavirus outbreaks. Get the day's top stories on Hollywood, film, television, music, arts, culture and more. Walt Disney Co. shutting down influential Radio Disney after two decades. You may occasionally receive promotional content from the Los Angeles Times. We have created the ability for you to control when your A-List membership is reactivated, anytime between theatres reopening and March 1, 2021. The theater is attempting to open in … It's no secret that coronavirus has ravaged the economy, and businesses large and small have suffered financial losses that are putting even large retailers out of business.Even though stores and facilities are slowly starting to reopen all over the country, there is a long and difficult road to recovery ahead. AMC THEATRES REOPENING ON OCT. 9: AMC Fayetteville 14; AMC DINE-IN Holly Springs 9; AMC Market Fair 15; AMC Park Place 16; AMC DINE-IN Southpoint 17 Commercial producers agree to testing protocols as coronavirus spreads. AMC sold 17% of its total capacity in 2019. Last week, Warner Bros. and other studios scrambled to adjust release schedules for their movies in hopes that customers will be more apt to return in late July. Is DocuSign More Than Just a Work-From-Home Stock? The reopening is the first step in AMC's phased plan for the US. But when will theaters reopen? It remains unclear how eager people will be to return to theaters, especially in cities such as Los Angeles and New York, which have been hard-hit by the virus. AMC is finally reopening its theaters, and guests will need to spend just 15 cents to get in.The world's largest movie theater chain will reopen more … California’s stay-at-home order allows essential travel only. Warner Bros. to release movies on HBO Max for the next year. https://t.co/EsOjAfAURD. In order to commemorate its centennial, AMC is offering "movies in 2020 at 1920 prices" on opening day. Analysts' target price for the stock has fallen from $3.83 in July—a reduction of 8.6 percent. That date was then pushed back to July 30 late last month. Reportedly, the chain has lost upwards of $2.4 billion because of the shutdown. What you need to know (and how to cope). Amid the COVID-19 pandemic, federal guidelines will leave decisions about reopening businesses to the states. When AMC announced plans Thursday to reopen more than 100 theaters in the United States on Aug. 20, it released a list of specific locations that would be involved.Missing from that list… The world's largest movie theater chain will reopen more than 100 US theaters on August 20, the company said. What Would Happen if Alibaba Is Delisted From U.S. Stock Exchanges? The U.S. is AMC Theatres' last region to begin a phased reopening. None of the analysts recommend a buy. The warning is typical of … Its food service will operate with a limited menu at first to decrease the amount of time servers spend interacting with guests. These Kansas City metro locations are on the list By Anna Spoerre And Robert A Cronkleton, The Kansas City Star 8/13/2020 5 … Actors sue union health plan over loss of insurance. These 7 AMC theaters are reopening with 15-cent tickets for a day A lineup of throwback movies will screen for cheap as the chain welcomes back viewers. With ‘Rival Peak,’ Facebook is launching a television experiment that’s betting on video games as appointment viewing with Tamagotchi-style loyalty. The home of cable networks HGTV, Animal Planet and ID is launching a direct-to-consumer service starting at $4.99 a month. Among the movies AMC plans to screen as part of its reopening include Disney’s The New Mutants starting August 28th and Christopher Nolan’s Tenet starting September 3rd. AMC Theatres, the world’s largest exhibitor, has announced phased-in reopening plans with an opening day of August 20. The chain hopes the steps will lead to a return of normal operations in time for the key holiday movie season. When AMC announced plans Thursday to reopen more than 100 theaters in the United States on Aug. 20, it released a list of specific locations that would be involved. Here’s what to look for. During the first phase of reopening, every other row of seats will be blocked off in non-recliner auditoriums. The remaining U.S. theaters will only reopen after approval from state and local officials. Warner Bros. has decided its 2021 movies will come out concurrently in U.S. theaters and on HBO Max. AMC Theatres, the world’s largest cinema chain, will reopen most of its U.S. theaters on July 15, the Leawood, Kan.-based exhibitor said Thursday. Already highly leveraged, the company in April raised $500 million in new debt to shore up its finances and ensure its survival while bringing in zero revenue. With the pandemic worsening and winter break nearly here, many families are rethinking their holiday travel plans. AMC, owned by China’s Dalian Wanda Group, lost more than $2 billion in its most recent fiscal quarter. None of the five designated regions in California have reached the critical under-15% ICU capacity, but all are expected to hit that mark soon. Additional closures of California businesses and activities will be based on projections of regional intensive care unit capacity. The company operates in 14 European and Middle Eastern countries, and said theaters there either opened in June or … Newsom orders new limits on California businesses and activities as COVID-19 soars. Reopening dates and this list of theatres may change and will be updated if needed. Adhering to various pandemic guidelines nationwide, the AMC Theatres chain will reopen more than 100 of its movie theaters on Aug. 20, though none on Long Island. Theaters closed for a large chunk of the year, and chains are doing anything they can to bounce back. AMC Theatres just provided a big update to A-List members ahead of the company’s reopening later this month.. Movie theatres across the country have been shut down since March amid the coronavirus pandemic and AMC will begin reopening theatres on August 20. AMC theaters have reopened in numerous international countries but have remained shuttered in the U.S. since March. AMC theaters have reopened in numerous international countries but have remained shuttered in the U.S. since March. However, the stock has fallen by 54.5 percent in the trailing 12-month period. AMC Chief Executive Adam Aron said the company has worked for months on its four-phase plan for limited capacity and strict sanitation protocols that he hopes will make customers feel safe returning to theaters for the first time since mid-March. Ryan Faughnder is a film business reporter for the Los Angeles Times’ Company Town, covering the major Hollywood studios, including Walt Disney Co. AMC has made official their U.S. reopening plans after what will be a four-month shutdown due to COVID-19 with 450 U.S. locations on July 15, roughly … AMC Entertainment CEO and president Adam Aron speaks to FOX Business' Liz Claman about his business' grand reopening… AMC reported total revenues of $18.9 million in the second quarter, which was 99 percent lower than the second quarter of 2019. Walt Disney Co. is closing its children’s radio programming station and laying off staff amid a broader restructuring of its operations. Actors allege that changes made to a union health plan will make it harder for them to keep their insurance during the pandemic. The company beat analysts’ consensus revenue expectation of $8.0 billion. In an email sent to the company's "A-list" members last week, the theater chain announced that movies will resume starting Aug. 20. Year-to-date, the stock has fallen by 26.7 percent as of Thursday. Then they’ll tell their friends to go out and see a movie.”. On Thursday, August 20th, AMC will reopen more than 100 theaters across the country, and plans to open approximately 300 additional theaters by September 3rd, just in … Warner Bros. delayed the release of Christopher Nolan’s “Tenet” by two weeks to July 31, and pushed “Wonder Woman 1984" out of the summer to Oct. 2. This new phase in the pandemic means new rules for hotels and other travel providers. AMC stock was trading up more than 1.1 percent at about $5.37 in the pre-market session today. arts entertainment Movies. AMC talks plans about re-opening theaters and recovering from massive losses. That includes requiring all guests to wear masks, lowering theater capacity and upgrading ventilation systems.”. AMC hopes to gradually increase the amount of seating it has available to 50% roughly by Labor Day weekend, depending on how the virus situation progresses. Continue to check back here for updates, or if you’re opted in to receive communications from AMC, we will let you know when your favorite theatre reopens. However, AMC plans to reopen about 100 U.S. theaters on Aug. 20 to celebrate its 100 years in business. The company closed all of its U.S. theaters in March amid the coronavirus outbreak to avoid spreading the illness. The chain touted the reopening as “Movies in 2020 at 1920 Prices.” After several false starts due to a summer rise in coronavirus cases throughout much of the U.S., widespread moviegoing is currently set to resume in late August. AMC Theatres has been hit hard financially due to the coronavirus pandemic. “When I go to watch a movie on July 15, I will be wearing a mask.”. According to a CNN report, “AMC said that it's implementing new safety and health measures to help keep moviegoers safe and curb the spread of coronavirus. However, recently, … He holds a master’s in journalism from USC’s Annenberg School and a bachelor’s in English from UC Santa Barbara. Reality TV meets video games ... on Facebook? The company had to postpone the reopening of its theaters several times. In the second quarter, AMC reported non-GAAP EPS of -$5.38 compared to $0.17 in the second quarter of 2019. The company aims to be fully open with normal seating by late November. The AMC Theaters reopening plan kicks off August 20 with more than 100 US locations, with the aim of opening two-thirds of its locations by September. AMC hopes that it will be able to have half of its auditoriums full by Labor Day and projects that it will be at full capacity by Thanksgiving. Animal Planet, HGTV enter streaming arena as Discovery launches new service. On Aug. 20, all of the tickets at AMC will be charged at the 1920 price of 15 cents per ticket (plus sales tax) to mark the occasion. Theaters should be able to operate profitably, even when limiting the number of tickets sold, exhibition executives say. “Hopefully by Thanksgiving, we’ll be back to normal operations,” Aron said. Here’s what they actually mean for you, COVID-19 deaths and hospitalizations in U.S. smash records for a single day, The streaming wars are here. AMC stock has risen by 28.3 percent in the last five days. The move follows other lawsuits against Netflix related to executive poaching. Whether guests will have to wear face coverings will depend on local public health guidelines. The non-GAAP EPS missed analysts’ consensus estimate of -$4.31. AMC is reopening its movie theaters. After talks with entertainment industry unions, producers of commercials once exempt from conducting COVID-19 tests will now test their cast and crew. Upon reopening, AMC will operate at a limited capacity and block off seating to maintain safety, alongside other precautionary measures. AMC Theaters, which owns the AMC Champaign 13 at 910 Meijer Drive, C, and AMC Classic Village Mall 6 in Danville, plans to reopen its U.S. movie theaters in mid- to late August. NEW YORK - AMC Theatres, the nation's largest movie theater chain, will reopen in the U.S. on Aug. 20 with retro ticket prices of 15 cents per movie.. AMC Entertainment, which owns the chain, said Thursday that it expects to open the doors to more than 100 cinemas — or about a sixth of its nationwide locations — on Aug. 20 with throwback pricing for a day. AMC, which has 18 locations in Alabama, warned in June in a public filing, that it had uncertainty about its future beyond reopening. Need to cancel your holiday travel plans amid COVID? For its reopening plan, AMC said it consulted with experts from Harvard University’s School of Public Health and the Clorox Co. AMC’s auditoriums will be cleaned between each showtime, surfaces will be disinfected routinely, and hand sanitizer and hygienic wipes will be widely available at theaters, the company said. L.A.’s new rules created lots of confusion. He previously wrote for the Los Angeles Business Journal and Bloomberg News. On Thursday, AMC Entertainment stock surged 14.4 percent after the company announced that it will reopen some of its theaters on Aug. 20. 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