Photo by Noam Galai/Getty Images
AMC has reiterated its hope to reopen the company’s cinemas in July after posting a staggering loss, The Wall Street Journal reports. On an earnings call yesterday, the company’s CEO Adam Aron said that he expects 97 percent of the company’s US locations to reopen by next month, after AMC was forced to close theaters in March as a result of the COVID-19 pandemic. AMC operates over 1,000 theaters, and more than 11,000 screens, globally. Recent surveys, however, suggest that movie-goers aren’t ready to return in substantial numbers.
ACM relies entirely on public gatherings to make its money, posting a $2.2 billion net loss in the first quarter of the year. It made “virtually no revenue” in the last two weeks of March, according to The Wall...
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